SINGAPORE, April 4 (Reuters) - Spot gold edged up on Monday,
supported by a firm euro on expectations that the European
Central Bank will raise interest rates this week and strong oil
prices.
FUNDAMENTALS
* Spot gold inched up 0.2 percent to $1,430.39 an
ounce by 0028 GMT, after ending the first quarter with a minor
0.7 percent gain.
* U.S. gold futures <GCv1> also edged up 0.2 percent to
$1,431.70.
* Spot silver rose to as high as $38.03 earlier, just
10 cents off a 31-year high of $38.13 hit on March 24. It was
trading at $38.01, up 0.7 percent from the previous close.
* Strong U.S. employment data underpinned the optimism about
the economic recovery in the world's largest economy, dampening
sentiment in gold, seen as a safe-haven investment during times
of economic uncertainty. []
* U.S. crude prices extended gains in early Asian trade on
Monday as geopolitical unrest in the Middle East and Africa
stoked concerns about oil supply.
* Speculators in gold futures and options raised their net
long positions as prices rose to fresh records last week, data
from the U.S. Commodity Futures Trading Commission showed.
[]
* Harmony Gold , the world's fifth largest gold
miner, said on Friday that a mine in South Africa it had shut
after a fatality this week is likely to reopen on Tuesday.
[]
* For the top stories in metals and other news, click
, or
MARKET NEWS
* U.S. stocks started a traditionally healthy month on
strong footing on Friday after solid jobs figures, but the S&P
500 may need help to break to new multi-year highs.
* The euro hit fresh 11-month highs against a broadly weaker
yen early in Asia on Monday and held firm against the dollar
with markets all but certain the European Central Bank will
raise interest rates this week.
DATA/EVENTS (GMT)
0900 EZ Producers prices Feb
1400 US Employment trend index March
1915 US Federal Reserve Chairman Bernanke speaks
PRICES
Precious metals prices 0028 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1430.39 2.41 +0.17 0.77
Spot Silver 38.01 0.27 +0.72 23.17
Spot Platinum 1769.74 4.74 +0.27 0.13
Spot Palladium 775.25 5.30 +0.69 -3.03
TOCOM Gold 3877.00 20.00 +0.52 3.97 28144
TOCOM Platinum 4826.00 35.00 +0.73 2.77 5157
TOCOM Silver 102.90 1.60 +1.58 27.04 821
TOCOM Palladium 2113.00 45.00 +2.18 0.76 166
COMEX GOLD JUN1 1431.70 2.80 +0.20 0.72 1586
COMEX SILVER MAY1 38.05 0.31 +0.83 22.96 1765
Euro/Dollar 1.4256
Dollar/Yen 84.13
TOCOM prices in yen per gram. Spot prices in $ per ounce.
COMEX gold and silver contracts show the most active months
(Reporting By Rujun Shen; Editing by Himani Sarkar)
Reuters
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