Gold Price Jumps To USD1260 As Stocks Wobble

London (April 4)  Gold futures rallied Tuesday amid lingering risk aversion ahead of the upcoming March jobs report.

April gold rose 7 dollars to USD1261 an ounce, nearing its highest since November. Stocks were set to open lower, fueling concerns that a correction may be in order with the major averages recently hitting record highs.

The Commerce Department's international trade data for February will be released at 8.30 am ET. The economists are looking for consensus of a deficit of USD44.5 billion, an improvement when compared to a deficit of USD48.5 billion in the previous month.

The Commerce Department's Factory Orders for February will be revealed at 10.00 am ET. The consensus is for a growth of one %, slightly down from 1.2% growth a year ago.

Federal Reserve Governor, Daniel Tarullo will address Princeton University in Princeton, N.J., with audience Q&A at 4.30 PM ET.

Source: AllianceNews