PRECIOUS-Gold climbs as US jobs data soothes interest rate fears

Sun Apr 6, 2014 8:43pm EDT

SINGAPORE, April 7 (Reuters) - Gold added to gains on Monday
following its biggest one-day jump in over three weeks, as
investor worries about an early U.S. interest rate hike eased
when the nonfarm payrolls report failed to meet market
expectations.
        
    FUNDAMENTALS
    * Spot gold rose nearly 0.1 percent to $1,303.16 an
ounce by 0031 GMT, after gaining 1.2 percent on Friday - its
biggest percentage increase since March 12. The metal wasn't too
far from a one-week high of $1,306.50 hit in the previous
session. 
    * Data on Friday showed that U.S. nonfarm payrolls increased
by 192,000 jobs last month, slightly below economists' estimate
of 200,000. 
    * SPDR Gold Trust, the world's largest gold-backed
exchange-traded fund, said its holdings fell 1.80 tonnes to
809.18 tonnes on Friday. 
    * Hedge funds and money managers reduced their bullish bets
in gold futures and options for a second straight week, as
easing geopolitical tensions and a stronger tone to the U.S.
economy triggered gold selling, data from the Commodity Futures
Trading Commission showed on Friday. 
    * Iraq's central bank said on Friday its gold reserves had
reached 90 tonnes, after buying 60 tonnes over the past two
months to support the value of the Iraqi dinar.
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    MARKET NEWS
    * Commodity currencies including the Australian dollar held
on to solid gains early on Monday as the dollar and euro fell to
the wayside and even lost ground to an otherwise soft yen.
 
    
    DATA/EVENTS
    0600 Germany Industrial output Feb 
    0830 Euro zone Sentix index April 
    1400 U.S. Employment trends March 
    1900 U.S. Consumer credit Feb

    PRICES AT 0031 GMT
 Metal            Last     Change    Pct chg
                                              
 Spot gold        1303.16      1.04       0.08
 Spot silver        19.91      0.02        0.1
 Spot platinum    1443.74      0.24       0.02
 Spot palladium    786.22     -0.28      -0.04
 Comex gold        1303.8       0.3       0.02
 Comex silver       19.92    -0.026      -0.13
 Euro              1.3701                     
 DXY               80.419                     
                                              
 COMEX gold and silver contracts show the most
 active months
 
 (Reporting by A. Ananthalakshmi; Editing by Richard Pullin)