Strong U.S. employment data boosted Fed rate-hike expectations and pressured
gold, which erased its year-to-date gains. In the U.S. session, spot gold fell
about 3.5% and broke below $4320/oz. U.S. Treasury yields and the dollar both
rose. A tight labor market leaves Fed officials room to tighten further, while
Middle East tensions lifted energy prices. Rising rates typically weigh on
non-yielding precious metals.