February 1, 2013 / 1:01 AM / 5 years ago

PRECIOUS-Gold headed for weekly rise; US jobs data in focus

SINGAPORE, Feb 1 (Reuters) - Gold traded largely unchanged
on Friday, heading for a small weekly rise as investors await
key U.S. employment data to assess the state of recovery in the
world's top economy.
    
    FUNDAMENTALS
    * Spot gold traded little changed at $1,662.15 an
ounce by 0037 GMT, on course for a weekly rise of 0.2 percent,
paring some losses from the previous week's 1.5-percent slide.
    * U.S. gold inched up 0.1 percent to $1,662.20.
    * The U.S. nonfarm payrolls data, due at 1330 GMT, is likely
to show that hiring by U.S. employers likely held steady in
January. Nonfarm payrolls are expected to have risen 160,000
while unemployment rate hold steady at 7.8 percent.
 
    * The U.S. labour market report comes one day after a mixed
bag of data released on Thursday. Jobless claims rose last week,
while American income growth surged in December and a survey
showed private sector employment rose faster than expected last
month. 
    * China is due to release its official January purchasing
managers' index at 0100 GMT, which is expected to show the
country's factory activity expanded at its fastest pace in nine
months. 
    * The CME Group said it will add platinum and
palladium options onto its Globex electronic platform beginning
late in February in a move to capitalize on growing investor
interest in platinum group metals (PGMs). 
    * For the top stories on metals and other news, click
, or 
    
    MARKET NEWS
    * U.S. stocks edged lower on Thursday on caution ahead of
Friday's all-important jobs report, but the S&P 500 still posted
its best monthly gain since October 2011. 
    * The yen plumbed fresh multi-year lows against its G3 peers
on Friday, having posted its biggest monthly decline in 12 years
versus the euro as the market positioned for more aggressive
easing from the Bank of Japan. 
        
    DATA/EVENTS (GMT)
    
 0100 China      NBS Manufacturing PMI                       
 0145 China      HSBC Manufacturing PMI Final               
 0500 India      HSBC Markit Manufacturing PMI             
 0843 Italy      Markit/ADACI Manufacturing PMI             
 0848 France     Markit Manufacturing PMI                   
 0853 Germany    Markit/BME Manufacturing PMI               
 0858 Euro zone  Markit Manufacturing PMI                  
 1000 Euro zone  Inflation                                  
 1000 Euro zone  Unemployment rate                         
 1330 U.S.       Non-farm payrolls                          
 1330 U.S.       Unemployment rate                         
 1500 U.S.       ISM Manufacturing PMI                     
 1500 U.S.       Construction spending                      
    
    PRICES
  
 Precious metals prices 0037 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1662.15   -0.84   -0.05     -0.74
  Spot Silver        31.42    0.01   +0.03      3.76
  Spot Platinum    1671.24   -5.01   -0.30      8.88
  Spot Palladium    740.72    0.25   +0.03      7.04
  COMEX GOLD FEB3  1662.20    1.60   +0.10     -0.81           20
  COMEX SILVER MAR3  31.45    0.09   +0.30      4.02          454
  Euro/Dollar       1.3611
  Dollar/Yen         91.64
  COMEX gold and silver contracts show the most active months
 
 (Reporting by Rujun Shen; Editing by Eric Meijer)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below