Gold prices reversed a sharp rebound and fell to around $4,353 an ounce as stronger-than-expected U.S. August employment data revived expectations that the Federal Open Market Committee could raise rates at its September meeting. The decline extended gold's losses to a fourth consecutive session since the 4th, after prices had recovered to $4,600 and gained about 9% last month. Gold had earlier reached a record above $5,600 an ounce before falling below $4,000 in late June. Brokerages say near-term volatility may continue because gold pays no interest and becomes relatively less attractive when interest rates and real interest rates rise. They nevertheless view the correction as a potential medium- to long-term buying opportunity, citing the risk that widening U.S. fiscal deficits could erode confidence in dollar assets and continued central-bank accumulation. China has reduced its U.S. Treasury holdings since 2013 while increasing its gold reserves. Korea Investment & Securities analyst Jung Hyun-jong said prices will depend on real interest rates and the dollar in the near term, while central-bank buying could limit the risk of a severe historical-style crash. He said gold could rise gradually if an expected early-next-year slowdown in the U.S. economy leads real interest rates lower.