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PRECIOUS METALS-Gold falls due to the advance of shares after robust labor data in the US

Por Sumita Layek

Apr 5 (Reuters) – Gold prices fell on Monday, on a shallow trading day due to the Easter holidays, as robust U.S. employment data boosted hopes for a rapid economic recovery and global stock markets, making the ingot less attractive.

* At 0919 GMT, spot gold was down 0.3% at $ 1,724.50 an ounce, while gold futures were down 0.2% at $ 1,725.20 an ounce.

* The stellar March non-farm payroll report, released Friday, is raising optimism around the US economic recovery, boosting risk appetite and reducing demand for the bullion, said Han Tan, an analyst at FXTM markets.

* “If hard data continues to support more risk-taking activities in the markets, traditional havens are likely to suffer from the risk-friendly tide,” he said.

* In other precious metals, silver was down 0.9% at $ 24.75 an ounce; palladium was down 0.7% at $ 2,646.62; and platinum was 0.4% down at $ 1,204.93, after hitting its highest since March 18 earlier in the session, at $ 1,218.

(Edited in Spanish by Carlos Serrano)

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