Gold up on buying, euro strength after Macron's win in

 France Spot gold rose 0.2 percent to $1,229.90 per ounce as of 0124 GMT, after touching 1,224.86 earlier in the session, its lowest since March 17. Gold firmed on Monday as bargain-hunters moved in after prices dipped to seven-week lows and as the euro strengthened after expected win of pro-EU candidate Emmanuel Macron in the French presidential election. * Spot gold rose 0.2 percent to $1,229.90 per ounce as of 0124 GMT, after touching 1,224.86 earlier in the session, its lowest since March 17. * Gold last week saw its biggest weekly percentage fall since the week ending Nov. 11, ending over 3 percent lower. * U.S. gold futures were up 0.3 percent at $1,230.50 an ounce. * In early Asian trading, the euro hit its highest since Nov. 9 after centrist Emmanuel Macron comfortably won the French presidential election. * Macron was elected French president on Sunday with a business-friendly vision of European integration, defeating Marine Le Pen, a far-right nationalist who threatened to take France out of the European Union. * U.S. job growth rebounded sharply in April and the unemployment rate dropped to 4.4 percent, near a 10-year low, pointing to a tightening labor market that likely seals the case for an interest rate increase next month despite moderate wage growth. * Gold demand in India could be muted in the second half of 2017, as the rollout of a new national sales tax from July is expected to dent appetite in the world's second-biggest consumer, the World Gold Council (WGC) 

Oil prices rise on expectation of output cut extension 

The rise came after steep falls last week on the back of ongoing high supplies from countries that aren't participating in the cuts, including the United States where output is soaring. Oil prices rose on Monday on a growing conviction that an OPEC-led production cut initially scheduled to end in June would be extended to cover all of 2017, although a relentless increase in U.S. drilling activity is seen capping gains. The rise came after steep falls last week on the back of ongoing high supplies from countries that aren't participating in the cuts, including the United States where output is soaring. Traders said the victory of Emmanuel Macron in the French presidential elections against far-right Marine Le Pen also supported oil prices as it raised hopes of a more stable European economy. "The market viewed the fall as overdone," ANZ bank said on Monday. Brent crude futures, the international benchmark for oil prices, were at $49.85 per barrel at 0020 GMT on Monday, up 75 cents, or 1.5 percent, from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $46.87 per barrel, up 65 cents, or 1.4 percent from the last close.