Gold Prices Decline Following Strong US Jobs Data

• Gold prices dropped following stronger-than-expected US payrolls data.
• Spot gold fell 0.3% to $4,074.36 per ounce by 1:54 p.m. ET.
• The Federal Reserve is expected to raise interest rates to combat inflation.
• The dollar and Treasury yields increased as a result of the strong jobs data.
• Gold was up 5.2% for the week prior to the decline.