April 2 (Reuters) - Gold prices inched up on Thursday,
following a rally in the previous session, as fears about a
coronavirus-led steep slump in global economic activity lent
support to the metal as a safe-haven asset.
FUNDAMENTALS
* Spot gold XAU= gained 0.1% to $1,592.56 per ounce by
0011 GMT, having risen 1.2% in the previous session. U.S. gold
futures GCv1 rose 0.9% to $1,605.
* Asian equities looked set for further losses on Thursday,
after a dire warning about the U.S. coronavirus death toll and
mounting evidence the fast-spreading disease has sent the world
economy hurtling into a deep recession. MKTS/GLOB
* The pandemic is putting increasing strains on emerging
market economies, but the International Monetary Fund has
sufficient resources to meet their needs for now, IMF officials
said on Wednesday. * Factories fell quiet across much of the world in March as
the outbreak paralyzed economic activity. * U.S. manufacturing activity contracted less than expected
in March, but disruptions caused by the pandemic pushed new
orders received by factories to an 11-year low, data on
Wednesday showed, while private payrolls dropped last month for
the first time in 2-1/2 years. * Boston Federal Reserve Bank President Eric Rosengren said
social distancing efforts meant to contain the outbreak have
"stilled" the economy and could lead the unemployment rate to
"rise dramatically." * Germany's export-dependent manufacturing sector saw the
steepest decrease in output in almost 11 years in March, a
survey showed on Wednesday, due to virus-led plant closures in
Europe's biggest economy. * WHO Director-General Tedros Adhanom Ghebreyesus said on
Wednesday that his agency, the World Bank and the International
Monetary Fund backed debt relief to help developing countries
cope with the pandemic's social and economic consequences.
* Sales of gold from Australia's Perth Mint soared to their
highest in about seven years, the refiner said on Wednesday, as
fears over the economic fallout from the virus prompted
investors to buy the precious metal as a hedge. * SPDR Gold Trust GLD , the world's largest gold-backed
exchange-traded fund, said its holdings rose 0.18% to 968.75
tonnes on Wednesday. GOL/ETF
* Palladium XPD= rose 1.7% to $2,253.97 per ounce,
platinum XPT= slipped 0.2% to $716.06, while silver XAG=
eased 0.2% $13.97.
DATA/EVENTS (GMT)
0600 UK Nationwide house price MM, YY March
1230 U.S. International trade Feb
1230 U.S. Initial jobless claim weekly
1400 U.S. Factory order MM Feb