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PRECIOUS-Factors to watch on June 6

Published 06/06/2011, 02:41 AM
Updated 06/06/2011, 02:44 AM
PMC
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GC
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SI
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PA
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PL
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GLD
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SLV
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LONDON, June 6 (Reuters) - Gold strengthened on Monday, extending gains made in the previous session, as disappointing U.S. jobs data fueled fears of a slowdown in recovery of the world's biggest economy and a softer dollar lent support.

For latest market report, click on [GOL/].

PRICES * Spot gold

* Silver

* Platinum

* Palladium

DATA/EVENTS

* U.S. Federal Reserve Bank of Philadelphia president Charles Plosser speaks, Helsinki, Finland, 0730 GMT

* European Central Bank Vice-President Vitor Constancio to give speech, Florence, 0800 GMT

* Euro zone June Sentix index, 0830 GMT

* Euro zone April producer prices, 0900 GMT

* U.S. employment trend index for May, 1400 GMT

* European Central Bank President Jean-Claude Trichet speaks, Montreal, 1600 GMT

* Treasury Secretary Timothy Geithner speaks, Washington 1715 GMT

[ECI/US] [ECI/EURO] [ECI/GB] [M/DIARY] [MTL/DIARY]

MARKET NEWS

* The euro hit a one-month high on Monday, heading toward $1.50 ahead of a European Central Bank policy meeting later this week, an upward march that could bring commodity prices and emerging market currencies along with it. [MKTS/GLOB] [USD/]

* Brent crude slipped toward $115 a barrel on Monday on concerns about demand after disappointing jobs data from top consumer United States, while investors eyed an OPEC meeting later this week to see if the group would lift output. [O/R]

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* European stock futures pointed to more losses for equities on Monday after falling in the previous three sessions, with soft data in the past days raising concerns about the pace of economic recovery in the United States. [.EU]

* Wall Street closed out a fifth week of losses with more selling on Friday after an anemic jobs report strengthened the case that the economy was slowing, though analysts said indexes may stabilise in the near-term. [.N]

FUNDAMENTALS

* Holdings of the largest silver-backed exchange-traded fund (ETF), New York's iShares Silver Trust fell 0.52 percent from Thursday to Friday, while the largest gold-backed ETF, New York's SPDR Gold Trust , remained unchanged. [GOL/ETF]

* Money managers raised their bullish bets in COMEX gold futures and options for a second week as prices continued to recover from heavy losses incurred during the first two weeks of May, U.S. regulator data showed Friday. [ID:nN03176967]

* Kazakhstan's net gold and foreign currency reserves fell to $35.5 billion as of May 31 from $36.4 billion on April 30, the central bank said on Monday. [ID:nLDE75501C]

TECHNICALS

* Gold support was at $1,522 an ounce and resistance at $1,553. The 14-day RSI was at 67.87.

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