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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
, or 	
    	
    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
  	

 





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