COMMODITIES-Mostly down on US jobs data; oil tracks Iran talks

Mon Apr 9, 2012 10:43pm BST

 * Many markets lower as US jobs data disappoint
 * Revived Iran nuclear talks put more pressure on oil
 * China's slowing metals imports drag on copper
 * Gold bucks trend as investors hope again for US easing
 NEW YORK, April 9 (Reuters) - Oil prices fell on Monday as
revived talks on Iran's nuclear program eased fears of supply
disruptions, while other commodities slipped as slowing U.S.
jobs growth raised doubts about demand in the No. 1 economy.	
 Copper prices slid on indications that top buyer
China will be importing less of the metal amid a slowing
economy. 	
 On the agricultural side, corn futures ended lower on
liquidation ahead of key crop data from the U.S. government.
 	
 The 19-commodity Thomson Reuters-Jefferies CRB index 
was down a .5 percent from Thursday -- the last trading day for
U.S. markets before the Good Friday holiday.	
 Gold bucked the broadly lower trend in commodities
after disappointing U.S. jobs data last week revived speculation
that the Federal Reserve might try to stimulate the U.S. economy
. The data showed jobs growth slowed to 120,000 in March,
well below expectations and the smallest increase since
October. 	
 A new Federal Reserve stimulus could prompt inflation.
Investors often buy gold during inflationary times.	
 "In the next few months, the market will not only begin to
price in the Fed's sustained policy but will price in for
further monetary action," said James Dailey, portfolio manager
of the TEAM Asset Strategy Fund.	
 Benchmark Brent crude oil in London fell 76 cents to
settle at $122.67 a barrel, having dropped as low as $121.02 and
under the market's 50-day moving average of $121.60.  	
 U.S. crude oil finished down 85 cents at $102.46 a
barrel, after testing below the 100-day moving average of
$101.61.    	
 Prices at 5:22 p.m. EST (2122 GMT)      
                          LAST/      NET    PCT     YTD
                          CLOSE      CHG    CHG     CHG
 US crude                   102.15    -1.16  -1.1%    3.4%
 Brent crude                122.62    -0.81  -0.7%   14.2%
 Natural gas                 2.107    0.018   0.9%  -29.5%
 
 US gold                   1643.90    13.80   0.8%    4.9%
 Gold                      1639.80     9.58   0.6%    4.9%
 US Copper                  372.00    -7.55  -2.0%    8.3%
                       #VALUE!
 Dollar                     79.794   -0.093  -0.1%   -0.5%
 CRB                       304.820   -1.660  -0.5%   -0.2%
 
 US corn                    649.00    -9.25  -1.4%    0.4%
 US soybeans               1431.00    -3.00  -0.2%   19.4%
 US wheat                   643.00     4.50   0.7%   -1.5%
 
 US Coffee                  178.05    -4.95  -2.7%  -22.0%
 US Cocoa                  2108.00    23.00   1.1%    0.0%
 US Sugar                    24.43    -0.15  -0.6%    5.2%
 
 US silver                  31.524   -0.206  -0.6%   12.9%
 US platinum               1618.20    10.60   0.7%   15.2%
 US palladium               643.80    -1.00  -0.2%   -1.9%
 	
 (Reporting by Barani Krishnan)	
 
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