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PRECIOUS-Gold extends gains on revived easing hope
2012-04-10 08:17:15

SINGAPORE, April 10 (Reuters) - Gold edged up on Tuesday,
extending gains from the previous session after disappointing
U.S. jobs data breathed new life into hopes for more monetary
stimulus by the Federal Reserve.	
    	
    FUNDAMENTALS	
    * Spot gold inched up 0.2 percent to $1,643.69 an
ounce by 0027 GMT. It rose as much as 1 percent to $1,648.5 an
ounce in the previous session. 	
    * U.S. gold was little changed at $1,645.20.	
    * Most major Wall Street firms expect anemic growth in the
U.S. jobs market and a struggling economic recovery to force the
Federal Reserve to undertake another massive round of monetary
stimulus, a Reuters poll found on Monday.  	
    * Investors are waiting for China trade data due later in
the day to gauge the pace of the economic growth in the world's
second-largest economy, after Monday's data showed an unexpected
spike in March inflation.  	
    * 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.
 	
    * Silver imports into India, the biggest consumer of the
white metal, are likely to decline up to 27 percent this year on
expectations of volatile prices, despite import duty remaining
unchanged, the head of the country's biggest bullion importer
said on Monday. 	
    * For the top stories on metals and other news, click
, or 	
    	
    MARKET NEWS	
    * The Dow and the S&P 500 extended losses to a fourth day on
Monday, as investors took their cues from last week's
disappointing jobs report, which raised fresh concerns about the
 U.S. economy's recovery. 	
    * The dollar index held steady on Tuesday, after
falling for two straight sessions as the weaker-than-expected
U.S. employment data fueled expectations of more monetary
easing. 	
    	
    DATA/EVENTS	
 0245  France    Industrial output mm     Mar                      
 0745  U.S.      ICSC chain stores yy     Weekly                   
 1950  Japan     Bank lending yy                                   
       China     Exports yy               Mar                      
       China     Imports yy               Mar                      
       China     Trade balance            Mar                      
    	
    PRICES	
  	
 	
 Precious metals prices 0027 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1643.69    3.06   +0.19      5.11
  Spot Silver        31.68    0.15   +0.48     14.41
  Spot Platinum    1620.24   14.29   +0.89     16.31
  Spot Palladium    645.22    6.89   +1.08     -1.12
  COMEX GOLD JUN2  1645.20    1.30   +0.08      5.00         1974
  COMEX SILVER MAY2  31.70    0.18   +0.56     13.56          984
  Euro/Dollar       1.3105
  Dollar/Yen         81.74

 





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