Gold extended its slump in early Asian trading, and silver tumbled, after a stronger-than-expected U.S. jobs report fueled expectations that the Federal Reserve may start paring back massive monetary stimulus soon.
Bullion fell more than 4% before trading 2.4% lower at $1,720.78 an ounce. Silver slumped as much as 7%. Data on Friday showed U.S. employers added the most jobs in nearly a year and the unemployment rate declined faster than forecast.
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