Gold ticks down after US job data threw less hopes for easing measures

Gold prices extended losses in the first trading session of the week, as market sentiments was caught by the anticipation that better than expected US employment data, which dipped to 7.8%hitting lowest level since President Barack Obama took office, has took of urgency for additional stimulus measures.

The yellow metal also inched down on increasing sell off of the bullion as traders went wary on ailing global financial situation.

Spot gold slipped by 0.2% to $1,777.89 an ounce, after a 0.6% gain in the previous week. Whereas, gold futures for December delivery was little changed at $1,780.10 an ounce, from its previous session’s $1,780.80, on the Comex division of the New York Mercantile Exchange.