BENGALURU, July 12 (Reuters) - Gold was steady early Tuesday
after falling in the previous session, with markets assessing
whether the latest U.S. jobs data boosted the prospects of an
early interest rate hike by the Federal Reserve.
FUNDAMENTALS
* Spot gold XAU= was little changed at $1,354.60 per ounce
by 0039 GMT. It fell 0.8 percent on Monday, its biggest decline
in nearly two weeks, to close at $1,354.85.
* U.S. gold GCcv1 was also little changed at $1,356 an
ounce.
* Asian stocks held firm around a 2-1/2-month peak on
Tuesday, a day after U.S. shares hit a record high thanks to a
combination of upbeat U.S. data and expectations of more
stimulus around the world. MKTS/GLOB
* Kansas City Federal Reserve President Esther George on
Monday said U.S. interest rates are too low and signalled she
could be ready to restart her push for rate hikes within the
Fed's rate-setting committee.
* The sizzling $13.4 trillion U.S. Treasury market cooled a
bit on Monday as investors gave a cold shoulder to a $24 billion
sale three-year notes, part of $56 billion of new government
supply hitting the market this week.
* The European Central Bank will not ease monetary policy
any further at its meeting next week, according to an
overwhelming majority of respondents in a Reuters poll of euro
money market traders on Monday.
* The European Commission has revised down its forecasts for
growth in the euro zone and in Britain after the British vote to
leave the European Union, in early estimates unveiled on Monday
by the economic affairs commissioner Pierre Moscovici.
* A combination of a weaker U.S. dollar, along with a return
of Asian demand should continue to support gold prices in the
second half of 2016, Citigroup (NYSE:C) said in a note.
* Gold miners expanded the global hedge book by another 50
tonnes in the first quarter after hedging on a net basis for a
second straight year in 2015, an industry report showed on
Monday.
* South Africa's Sibanye Gold SGLJ.J has started talks with
unions about cutting jobs at its loss-making Cooke 4 mine though
the largest union in the gold sector has vowed to fight any
reductions.
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