PRECIOUS-Gold rebounds as US jobs data revived easing hopes
2012-04-09 08:21:13
SINGAPORE, April 9 (Reuters) - Gold rebounded on Monday,
after disappointing U.S. employment data revived expectations
that the U.S. central bank may ease monetary policy further and
helped burnish gold's appeal as an inflation hedge.
FUNDAMENTALS
* Spot gold rose as much as 1 percent in early hours
before easing to $1,642.16 an ounce by 0023 GMT.
* U.S. gold gained 0.8 percent to $1,643.50.
* U.S. employers hired far fewer workers in March than in
previous months, keeping the door open for the Federal Reserve
to provide more monetary support for a still sluggish economy.
* U.S. government debt prices surged on Friday, pushing
yields to more than three-week lows after surprisingly weak job
growth in March rekindled bets the Federal Reserve would embark
on another round of bond purchases to stimulate the economy.
* China is due to release its inflation data for March at
0130 GMT, which likely edged up to 3.3 percent from 3.2 percent
in the previous month, lifted by volatile vegetable prices and
higher energy costs.
* Money managers, including hedge funds and other large
speculators, cut their bullish bets on U.S. gold futures and
options in the week ended April 3, said U.S. Commodity Futures
Trading Commission.
* Jewellers in India called off their three-week-old strike
on Saturday, an industry official said, on assurances from
Finance Minister Pranab Mukherjee that the government would
consider scrapping a budget proposal to levy excise duty on
unbranded jewellery.
* For the top stories on metals and other news, click
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MARKET NEWS
* Asian shares fell on Monday as a sharp slowdown in U.S.
jobs growth raised concerns about the strength of the world's
largest economy, making investors cautious ahead of more U.S.
data and earnings as well as figures from China due this week.
* The dollar struggled to regain lost ground, after
disappointing U.S. jobs figures bolstered views that the Fed
could yet ease policy further to boost the economy.
DATA/EVENTS
0130 China CPI, PPI March
0930 EZ Sentix index April
1230 US Chicago Fed Midwest manufacturing index Feb
1400 US Employment trend index March
2315 US Fed Chairman Ben Bernanke speaks
PRICES
Precious metals prices 0023 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1642.16 11.94 +0.73 5.01
Spot Silver 31.86 0.14 +0.44 15.06
Spot Platinum 1609.74 18.39 +1.16 15.56
Spot Palladium 647.47 9.27 +1.45 -0.77
COMEX GOLD JUN2 1643.50 13.40 +0.82 4.90 7270
COMEX SILVER MAY2 31.86 0.13 +0.39 14.11 3698
Euro/Dollar 1.3062
Dollar/Yen 81.36
COMEX gold and silver contracts show the most active months
TIME | |||||
---|---|---|---|---|---|
Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
Prices By NTGOLD | ||
---|---|---|
We Sell | We Buy | |
37.5g ABC Luong Bar | ||
5,218.20 | 4,818.20 | |
1oz ABC Bullion Cast Bar | ||
4,337.90 | 3,957.90 | |
100g ABC Bullion Bar | ||
13,901.40 | 12,801.40 | |
1kg ABC Bullion Silver | ||
1,695.40 | 1,345.40 |
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