PRECIOUS-Gold extends gains on equities, focus on Fed
2012-03-12 10:51:20
SINGAPORE, March 12 (Reuters) - Gold rose further on Monday on firm
stocks after better-than-expected U.S. jobs data, although some investors may
stay on the sidelines ahead of a Federal Open Market Committee (FOMC) meeting
this week.
FUNDAMENTALS
* Spot gold added $2.02 an ounce to $1,710.05 an ounce by 0036 GMT,
after rising nearly 1 percent on Friday on higher crude oil and U.S. equities.
Bullion struck a record around $1,920 an ounce last September.
* U.S. employment grew solidly for a third straight month in February,
beating expectations and providing another sign that the world's largest economy
may be on a path of stable recovery.
* The Federal Reserve has said it intends to keep interest rates near zero
until 2014, but if the U.S. data trend persists, it may have to reconsider any
plans for additional monetary easing. The Fed will holds a policy meeting on
Tuesday.
* U.S. April gold hardly changed at $1,711 an ounce.
* Money managers, including hedge funds and other large speculators, cut
their bullish bets in gold to the lowest level in 5 weeks during the week of
March 6, as prices unwound from a late-February peak near $1,800 per ounce.
* For the top stories on metals and other news, click,
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MARKET NEWS
* Japan's Nikkei share average broke above 10,000 in early trade on Monday,
boosted by another robust U.S. jobs report that pointed to a strengthening U.S.
economic recovery.
* The dollar hovered around three-week highs against a basket of major
currencies in Asia on Monday, having gained ground late last week after upbeat
U.S. jobs data was seen lessening the chance of fresh stimulus from the Fed this
week.
DATA/EVENTS (GMT)
N/A - BANK OF JAPAN BEGINS TWO-DAY POLICY REVIEW
0500 - JAPAN CONSUMER CONFIDENCE FOR FEBRUARY
0700 - GERMANY WHOLESALE PRICE INDEX FOR FEBRUARY
0900 - ITALY FINAL Q4 GDP
1400 - U.S. EMPLOYMENT TREND INDEX FOR FEBRUARY
1800 - U.S. FEDERAL BUDGET FOR FEBRUARY
PRICES
Precious metals prices 0036 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1710.05 2.02 +0.12 9.35
Spot Silver 34.18 0.03 +0.09 23.44
Spot Platinum 1679.24 2.18 +0.13 20.55
Spot Palladium 699.72 7.72 +1.12 7.24
COMEX GOLD APR2 1711.00 -0.50 -0.03 9.20 2927
COMEX SILVER MAY2 34.21 0.00 -0.01 22.55 455
Euro/Dollar 1.3110
Dollar/Yen 82.28
TIME | |||||
---|---|---|---|---|---|
Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
Prices By NTGOLD | ||
---|---|---|
We Sell | We Buy | |
37.5g ABC Luong Bar | ||
5,333.50 | 4,913.50 | |
1oz ABC Bullion Cast Bar | ||
4,426.80 | 4,026.80 | |
100g ABC Bullion Bar | ||
14,205.60 | 12,905.60 | |
1kg ABC Bullion Silver | ||
1,728.40 | 1,378.40 |
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