SINGAPORE, April 1 (Reuters) - Gold held steady above $1,230
an ounce on Friday, after posting its biggest quarterly rise in
nearly 30 years on waning expectations of U.S. rate hikes, with
investors waiting for U.S. non-farm payrolls data for more cues.
FUNDAMENTALS
* Spot gold XAU= was little changed at $1,232.10 an ounce
by 0046 GMT, following a 0.6-percent increase overnight.
* With a 16-percent jump, gold on Thursday recorded its best
quarterly performance since 1986 as global growth concerns
diminished expectations of further U.S. interest rate hikes this
year. A tumble in the global stock market and the U.S. dollar
triggered safe-haven demand for the metal.
* Bullion is sensitive to rising rates, which lift the
opportunity cost of holding non-yielding assets, while boosting
the dollar.
* Federal Reserve Chair Janet Yellen said this week that the
U.S. central bank should proceed only cautiously as it looks to
raise interest rates.
* New York Federal Reserve President William Dudley on
Thursday said he agrees with Yellen's views that the U.S.
central bank should proceed cautiously, particularly given risks
from slow growth abroad.
* All eyes are now on U.S. non-farm payrolls data due later
in the session that will be watched for clues about the labour
market and the economy.
* U.S. payrolls are expected to grow by 205,000, according
to a Reuters poll. A stronger number could revive expectations
of higher U.S. rates, strengthen the dollar and hurt gold.
* Global manufacturing surveys due on Friday will also be in
focus.
* The U.S. Mint sold 38,000 ounces of American Eagle gold
coins in March, down 54.5 percent from the previous month,
according to the latest data.
* India's gold demand in the March quarter is set to drop by
about two-thirds from a year ago to its lowest in seven years,
as higher prices and a strike by jewellers curbed sales in the
world's second-biggest consumer.
* Higher gold prices curbed demand for the precious metal in
Asia this week, with premiums in several major markets taking a
hit, traders in the top consuming region said.
* For the top stories on metals and other news, click
TOP/MTL or GOL
DATA AHEAD (GMT)
0100 China Official manufacturing PMI Mar
0100 China Official non-manufacturing PMI Mar
0145 China Caixin manufacturing PMI final Mar
0200 Japan Nikkei manufacturing PMI Mar
0755 Germany Markit/BME manufacturing PMI Mar
0800 Euro zone Markit manufacturing PMI final Mar
0900 Euro zone Unemployment rate Feb
1230 U.S. Nonfarm payrolls Mar
1230 U.S. Unemployment rate Mar
1400 U.S. Construction spending Feb
1400 U.S. ISM manufacturing PMI Mar
PRICES AT 0046 GMT
Metal Last Change Pct chg
Spot gold 1232.1 0.15 0.01
Spot silver 15.431 0.015 0.1
Spot platinum 975.05 2.55 0.26
Spot palladium 562.85 0.85 0.15
Comex gold 1234.2 -1.4 -0.11
Comex silver 15.445 -0.019 -0.12
COMEX gold and silver contracts show the
most active months