07-Oct (USAGOLD) — Stocks were somewhat impressed by this morning’s better than expected nonfarm payrolls report for September and the jump in August wholesale sales, but gold remains narrowly confined. Persistent uncertainty surrounding the eurozone debt crisis continues to underpin the yellow metal, along with concerns about an impending banking crisis on the Continent. There will be increasingly intense pressure on EU leaders to devise a solution to the dual crises in advance of the November G20 summit.

• US wholesale sales surged 1.0% in Aug, well above market expectations of 0.2%; inventories +0.4%.
• US nonfarm payrolls +103k in Sep, well above market expectations of+56k, vs upward revised +57k in Aug. Jobless rate steady at 9.1%.
• UK output PPI accelerated to 6.3% y/y in Sep, just above expectations, vs revised 6.0% in Aug; input PPI rose to 17.5% y/y.
• Germany industrial production (preliminary) -1.0% m/m in Aug, above market expectations of -2.0%, vs 3.9% in Jul; 7.7% y/y.
• Switzerland unemployment rate steady at 3.0%.
• Japan leading index (preliminary) -0.8% m/m in Aug, vs 2.0% in Jul.
• Japan coincidence index (preliminary) 0.3% m/m in Aug, vs upward revised -0.3% in Jul.
• BoJ holds target overnight call rate steady at 0%-0.1%.