Gold plunges, then bounces to fresh highs on strong NFP

Gold slumped to 1-week lows as the immediate reaction to stronger-than-expected US jobs data, although it reversed losses and overshot pre-data levels the last minutes.

The yellow metal fell to a low of $1,335 an ounce, as the dollar strengthened broadly, but it has climbed back to fresh highs at the $1,370 zone afterwards.

US economy added 287,000 jobs in June, beating expectations of 175,000 and marking the strongest level since October. Meanwhile, However, the unemployment rate rose to 4.9% in June from 4.7% in May.