SINGAPORE, Feb 1 (Reuters) - Gold was steady on
Wednesday after ending January with its biggest monthly rise
since August, while investors eyed more data from the world's
key economies for trading cues after China released a
better-than-expected manufacturing survey number.	
    China's official Purchasing Managers' Index showed the
manufacturing sector expanded modestly in January, with the
index reading inching up to 50.5 from 50.3 in December, above a
49.5 reading forecast.  	
    "The short-term trend (for commodities) is still favourable,
especially after encouraging data from China today," said Peter
Tse, director at ScotiaMocatta in Hong Kong, but warned about
increased volatility as a result of uncertainties over the euro
zone debt crisis . 	
    Spot gold was little changed at $1,738.10
an ounce by 0319 GMT, off a nearly two-month high of $1,747.39
hit in the previous session. U.S. gold traded flat at
$1,738.30.	
    Hope for further monetary easing from the United States and
the euro zone run high and will likely support gold, especially
after the U.S. Federal Reserve Chairman Ben Bernanke hinted at
the possibility of more asset buying last week. 	
    Physical buying interest remained muted after China returned
from the Lunar New Year holiday earlier this week.	
    "There's no physical buying interest at this price level,"
Tse said.	
    Data due later in the day include the euro zone
manufacturing survey and the Institute for Supply Management
index from the United States. The euro zone flash inflation for
January and U.S. January employment data from ADP are also
expected.  	
    The reports were likely to show many economies are seeing a
sluggish start in 2012 amid slowing demand, putting central
banks around the world under pressure to keep an accommodative
policy to support growth.	
	
    Precious metals prices 0319 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1738.10    0.91   +0.05     11.15
  Spot Silver        33.17    0.04   +0.12     19.79
  Spot Platinum    1591.99    6.99   +0.44     14.28
  Spot Palladium    683.50    2.70   +0.40      4.75
  COMEX GOLD FEB2  1738.30    0.50   +0.03     10.95           65
  COMEX SILVER MAR2  33.19   -0.07   -0.22     18.90         2945
  Euro/Dollar       1.3065
  Dollar/Yen         76.18

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