Gold near one-week high, focus on US payrolls data

Singapore, May 4 (Reuters) Gold edged up today and was within sight of its highest in a week scored the previous day but dealers were reluctant to take new positions ahead of the release of US payrolls data.

-- Spot gold inched up $681.80/682.30 an ounce from $681.10/681.60 late in New York on Thursday, when it jumped to $682.70 on fund buying and a mining strike in gold producer Peru.

-- Japanese investors were out of action with Tokyo gold futures market closed for the Golden Week holiday. Trading resumes next Monday.

-- The US dollar was firm today as upbeat economic data helped it cling to three days of gains, though its immediate fate hangs on the result of the notoriously volatile US payrolls report.

-- A surprisingly strong survey of the US service sector, coupled with a rise in productivity and a drop in labour costs, lifted the dollar on Thursday and led the market to further trim the chances of a rate cut from the Federal Reserve.

-- The euro was steady at $1.3550 on Friday, having slipped 0.3 per cent the previous session.

-- Platinum rose to $1,299/1,304 an ounce from $1,295/1,300 an ounce.

-- Palladium rose to 371/376 an ounce from $369/373 an ounce.

-- Silver gained to $13.39/13.42 an ounce from $13.37/13.40.

Precious metals prices at 0110 GMT Last Net Change Pct Move Turnover (lots) Spot Gold 681.50 Spot Platinum 1299.00 Spot Silver 13.39 Spot Palladium 371.00 Change so far in 2007 Metal Latest bid End prev year Pct Move Spot Gold 681.50 636.10 +7.14 Spot Platinum 1299.00 1132.00 +14.75 Spot Silver 13.39 12.85 +4.20 Spot Palladium 371.00 332.00 +11.75 Euro/Dollar $1.3549 Dollar/Yen 120.38 TOCOM prices in yen per gram, spot prices in $ per ounce.

REUTERS PM PM1127