PRECIOUS-Gold edges up after heavy losses on US jobs surprise
2012-02-06 09:29:29
SINGAPORE, Feb 6 (Reuters) - Spot gold edged higher on
Monday after surprisingly strong U.S. jobs data sent prices down
nearly 2 percent in the previous session, as investors shifted
focus to a looming deadline for Greece to accept the terms of a
new bailout deal.
FUNDAMENTALS
* Spot gold edged up 0.2 percent to $1,728.90 an
ounce by 0034 GMT, after finishing the previous week down 0.7
percent.
* U.S. gold lost half a percent to $1,731.60.
* U.S. unemployment rate in January unexpectedly fell to a
near three-year low and job creation was at its fastest pace in
nine months, boosting confidence in the recovery of the world's
largest economy.
* The encouraging U.S. jobs data boosted the dollar and
equities, but bullion saw its biggest daily fall in more than a
month on Friday as the data dampened hopes on fresh quantitative
easing measures.
* But the uncertainty in the euro zone debt crisis remained
supportive of safe-haven appetite in gold, as Greece approaches
a deadline on Monday on whether to accept the painful terms of a
new bailout deal.
* Money managers, including hedge funds and other large
speculators, increased their bullish bets in gold, silver and
copper futures and options in the week of Jan. 31, as prices of
all three metals rose to multi-month highs.
* Expectations of limited upside in prices of gold could
dent imports into India, pushing shipments down by a fourth in
the March quarter, with prices remaining steady below last
year's record till June-end, a Reuters poll revealed.
* For the top stories on metals and other news, click
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MARKET NEWS
* The euro and risk sentiment took a bit of a hit first
thing in Asia on Monday with markets getting anxious as the
deadline for Greece to clinch a second rescue package loomed
large.
* A surge in hiring in the world's largest economy last
month drove the Nasdaq to an 11-year high on Friday as optimism
grew that the labor market is on a steady path to recovery.
DATA/EVENTS
0930 EZ Sentix index Feb
1100 Germany Industrial orders Dec
1500 US Employment trend index Jan
PRICES
Precious metals prices 0034 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1728.90 3.10 +0.18 10.56
Spot Silver 33.54 -0.05 -0.15 21.13
Spot Platinum 1616.24 -1.26 -0.08 16.03
Spot Palladium 702.47 -2.53 -0.36 7.66
COMEX GOLD APR2 1731.60 -8.70 -0.50 10.52 2624
COMEX SILVER MAR2 33.57 -0.18 -0.53 20.26 307
Euro/Dollar 1.3107
Dollar/Yen 76.47
COMEX gold and silver contracts show the most active months
(Reporting by Rujun Shen; Editing by Himani Sarkar)
| TIME | |||||
|---|---|---|---|---|---|
| Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
| Prices By NTGOLD | ||
|---|---|---|
| We Sell | We Buy | |
| 37.5g ABC Luong Bar | ||
| 8,176.30 | 7,456.30 | |
| 1oz ABC Bullion Cast Bar | ||
| 6,843.40 | 6,183.40 | |
| 100g ABC Bullion Bar | ||
| 21,773.20 | 19,773.20 | |
| 1kg ABC Bullion Silver | ||
| 2,938.30 | 2,353.30 | |
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