Gold retained gains from its biggest daily jump in nearly nine months on Monday as weak US jobs data eased fears the Federal Reserve will hike rates this year.
FUNDAMENTALS
Spot gold was little changed at USD 1,137.45 an ounce by 0037 GMT. The metal had gained 2.2 percent on Friday, its biggest one-day rise since January 15.
Data on Friday showed US employers slammed the brakes on hiring over the last two months, with payrolls outside of farming rising by 142,000 last month. Economists polled by Reuters had expected job growth of 203,000 in September.
The data raised new doubts on whether the economy was strong enough for the Fed to raise interest rates by the end of this year.
Gold, which had been weighed down all year by expectations the US central bank could soon rise rates, rallied as the dollar fell. The metal is still down nearly 4 percent this year.
Higher rates would dent demand for non-interest-paying gold, while boosting the dollar.
Silver had also rallied with gold, gaining 5.4 percent on Friday, its sharpest rise since December, 2014. On Monday, the metal rose to its highest in two weeks of USD 15.35.
Platinum was trading up 0.8 percent at USD 912, after hitting a near-seven-year-low of USD 888 in the previous session.
Platinum has been hit after revelations last month that Volkswagen falsified US vehicle emission tests, which some believe could affect demand for diesel cars. Platinum is widely used in auto catalysts, particularly for diesel engines.
Palladium rose to USD 705.72 on Monday, its highest since June, boosted by hopes that demand for gasoline cars, where the metal is used in catalysts, could increase.
Hedge funds and money managers boosted bullish bets in COMEX gold futures and options to a four-week high but cut a silver net long position in the week to Sept. 29, US Commodity Futures Trading Commission data showed on Friday.
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