May 10 (Reuters) - Gold prices on Monday hovered close to a
near three-month high hit last week after weaker-than-expected
U.S. jobs data cemented hopes that interest rates will stay low
for some time, pressuring the dollar and boosting bullion's
appeal.
FUNDAMENTALS
* Spot gold was up 0.1% at $1,831.72 per ounce by
0131 GMT, after hitting its highest since Feb. 11 at $1,842.91
in the previous session.
* U.S. gold futures were up 0.2% at $1,834.00 per
ounce.
* The dollar index languished near a more than
two-month low versus major peers, making gold less expensive for
other currency holders.
* U.S. job growth unexpectedly slowed in April, likely
curbed by shortages of workers and raw materials as rapidly
improving public health and massive government aid fuelled an
economic boom.
* The 266,000 jobs that U.S. firms added in April were
"nowhere near" what was expected, a Federal Reserve official
said on Friday, and added little to the "substantial further
progress" officials want to see before considering changes to
monetary policy.
* Lower interest rates decrease the opportunity cost of
holding non-yielding bullion
* Stocks rose on Monday, while oil prices jumped after a
cyber attack on a U.S. pipeline operator unnerved markets.
* Physical gold demand in India dived last week as shops
shuttered and people turned cautious due to surging coronavirus
infections across the world's second-largest bullion consumer.
* Speculators increased their bullish positions in COMEX
gold and silver contracts in the week to May 4, the U.S.
Commodity Futures Trading Commission (CFTC) said on Friday.
* Palladium rose 0.3% to $2,934.58 per ounce.
* Silver gained 0.8% to $27.65 per ounce, while
platinum was up 0.6% at $1,256.47.
DATA/EVENTS (GMT)
0730 UK Halifax House Prices MM April
(Reporting by Shreyansi Singh in Bengaluru; Editing by
Subhranshu Sahu)
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