Gold held on to gains on Monday following its biggest one-day jump in more than three weeks as investor worries about an early US interest rate hike eased when the nonfarm payrolls report failed to meet market expectations. Data on Friday showed that US nonfarm payrolls increased by 192,000 jobs last month, slightly below economists' estimate of 200,000.
Spot gold was steady at $1,300.50 an ounce by 0640 GMT, after gaining 1.2 percent on Friday - its biggest one-day percentage increase since March 12. The metal wasn't too far from a one-week high of $1,306.50 hit in the previous session. "It's a relief rally because markets were expecting a much stronger payrolls number," said a Sydney-based trader. "It was only a small miss but people are glad that nothing much is going to change with the stimulus because of this."