Economics Gold lost half a percent on Monday, on course for its sharpest one-day loss in three weeks as a surprisingly upbeat US job market report dented the precious metal's appeal as a hedge against inflation. The US unemployment rate unexpectedly dropped to a near four-year low of 7.8 percent in September, raising some doubts on whether the stimulus measures put in place by the Federal Reserve to boost the labour market would last as long as initially thought. Rampant cash printing as a result of easy monetary policy drives investors to bullion to hedge risks arising from an increased inflation outlook. Gold jumped nearly 5 percent last month, during which the Fed and European Central Bank each announced aggressive easing measures. More from Arabian Business Brent crude slipped below $112 per barrel on Monday, dropping for a second straight session on concerns a fragile global economy could curb
