* U.S. jobs data supports monetary easing expectations
* China inflation allows room for stimulus, seen bullish
* India jewelers call off strike, helps physical buying
* Coming up: U.S. wholesale inventory and sales Tuesday
(Updates market activity)
By Frank Tang and Jan Harvey
NEW YORK/LONDON, April 9 Gold rose almost 1
percent in thin holiday trade o n M onday, breaking ranks with
other commodities and equities, after disappointing U.S. jobs
data last week revived speculation that the Federal Reserve
might try to stimulate the U.S. economy.
The precious metal, which fell more than 2 percent last
week, also received a boost from physical buying out of India
following the end of a jewelers strike.
A bigger-than-expected increase in Chinese consumer prices
in March contributed to the buying of gold as an inflation
Bullion has dropped 8 percent since the end of February
after a run of strong U.S. economic data convinced many fund
managers that the Fed would not launch another round of
However, market watchers said last Friday's data showing
U.S. employers had hired far fewer workers in March than in
previous months could keep the door open for more U.S. stimulus.
"In the next few months, the market will not only begin to
price in the Fed's sustained policy but will price in for
further monetary action," said James Dailey, portfolio manager
of the TEAM Asset Strategy Fund.
Spot gold was up 0.9 percent at $1,645.40 an ounce by
2:41 p.m. EST (1841 GMT).
U.S. gold futures for June delivery settled up $13.80
an ounce, or 0.85 percent, at $1,643.90. Trading volume was
light, around 40 percent of the 30-day average, preliminary
Reuters data showed, with most European financial markets still
closed for Easter.
Gold, which has taken to tracking riskier assets, rose on
Monday despite losses in equities and other commodities led by
END OF INDIA JEWELERS' STRIKE HELPS
Also lifting gold was decent physical demand from India and
Gold jewelers in India, the world's largest consumer of the
yellow metal, replenished stocks after a three-week long strike
and ahead of Akshaya Tritiya, a gold buying festival slated
later in the month.
Silver was down 0.3 percent at $31.62 an ounce
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 top bullion importer ScotiaMocatta said on
Among other precious metals, spot platinum rose 1.1
percent to $1,608.15 an ounce and spot palladium edged up
0.1 percent to $639.03 an ounce.
2:41 PM EDT LAST/ NET PCT LOW HIGH CURRENT
SETTLE CHNG CHNG VOL
US Gold JUN 1643.90 13.80 0.8 1636.70 1649.90 75,227
US Silver MAY 31.524 -0.206 -0.6 31.310 32.100 32,868
US Plat JUL 1618.20 10.60 0.7 1611.30 1627.00 2,958
US Pall JUN 643.80 -1.00 -0.2 640.70 653.00 1,270
Gold 1645.40 15.18 0.9 1628.80 1648.50
Silver 31.620 -0.100 -0.3 31.330 32.050
Platinum 1608.15 16.80 1.1 1610.71 1620.24
Palladium 639.03 0.83 0.1 644.30 650.50
TOTAL MARKET VOLUME 30-D ATM
CURRENT 30D AVG 250D AVG CURRENT CHG
US Gold 87,480 202,725 197,139 18.19 1.09
US Silver 46,150 59,651 60,471 27.93 -0.15
US Platinum 2,993 10,880 8,412 19.92 0.05
US Palladium 1,278 4,582 4,685
(Additional reporting by Rujun Shen in Singapore; Editing by