RPT-PRECIOUS-Gold firmer but dollar rise, US bank plan weigh

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TOKYO, Feb 1 (Reuters) - Gold prices were firmer after
posting a third straight week of declines last week, but
investors remained wary of gains in the dollar which weaken
bullion's appeal as a currency hedge.

FUNDAMENTALS

* Spot gold XAU= inched up 0.3 percent to $1,082.50 per
ounce compared to New York's notional close of $1,079.20.

* U.S. gold futures for April delivery GCJ0 were steady at
$1,084.10, compared to $1,083.80 an ounce on the COMEX division
of NYMEX.

* Year to date, gold prices were about 2 percent lower.

* A U.S. proposal to limit bank risks continued to weigh on
investor sentiment.

* Buying of the platinum group metals to back new U.S.
exchange-traded funds -- ETFS Platinum (PPLT.P) and ETFS
Palladium (PALL.P) --tailed off at the beginning of this week,
data from ETF Securities, which operates the funds, showed.

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* The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust (GLD), said its holdings stood at 1,111.922 tonnes as
of Jan. 29, unchanged from the previous business day. [GOL/SPDR]

* Noncommercial net long U.S. gold futures positions fell 4.3
percent to 211,924 lots in the week to Jan. 26 from 221,469 lots,
a weekly report by the U.S. Commodity Futures Trading Commission
showed. [ID:nN29139311]

MARKET NEWS

* U.S. stocks dropped on Friday, as worries about fiscal
turmoil in Europe and a drop in technology stocks pushed the S&P
500 to its worst monthly decline since February 2009. [.N]

* The dollar was steady on Monday, keeping most gains made
the previous business day when it rose against major currencies
after stronger-than-expected economic data reinforced the view
the United States was recovering from recession faster than other
developed countries. [USD/]

DATA EVENTS

* The following data is expected on Monday: ECON

- Germany manufacturing PMI for January. (0858 GMT)

- Euro zone manufacturing PMI for January. (0858 GMT)

- US personal income/spending for December. (1330 GMT)

- The White House announces 2011 fiscal budget. (1500 GMT)

- US construction spending for December. (1500 GMT)

- US ISM for January. (1500 GMT)

RELATED NEWS

>Gold falls for third straight week on liquidation [GOL/]

>Commods end Jan with worst losses since Nov 2008 [COM/WRAP]

>Premiums soar ahead of Lunar New Year; jewellers buy [GOL/AS]

>US Q4 economic growth fastest in six years [ID:nN28246399]

>China's 2009 gold output rises 11 percent [ID:nLDE60T0D3]

>Greece and EU close ranks, say no bailout [ID:nLDE60S0XN]

PRICES

Precious metals prices at 2350 GMT
Metal Last Change Pct chg 2 Day chg MA 30 RSI
Spot gold $1083.20 $4.00 +0.37% -6.45% $1110.57 31
Spot silver $16.21 $0.05 +0.31% -10.84% $17.53 23
Spot plat $1501.50 $1.50 +0.10% +0.10% $1531.20 33
COMEX gold $1084.00 $0.70 +0.06% -0.03% $1112.45 29
TOCOM gold 3,169 37 +1.18% +0.00% 3,279 27
TOCOM plat 4,405 65 +1.50% +0.78% 4,508 33
Currencies
Euro/dlr $1.388 $0.002 +0.13% +0.11%
Dlr/yen 90.18 0.28 +0.31% -0.01%
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting by Chikako Mogi; Editing by Edwina Gibbs)