PRECIOUS-Gold flat on uncertain Fed stimulus outlook

SINGAPORE, July 12 (Reuters) - Gold was little changed on
Thursday, as investors remained cautious after meeting minutes
showed the Federal Reserve was unlikely to launch more monetary
stimulus until U.S. economic conditions weakened further.

FUNDAMENTALS
* Spot gold was nearly flat at $1,575.29 an ounce by
0036 GMT.
* U.S. gold futures contract for August delivery
traded little changed at $1,575.50.
* The U.S. Federal Reserve is open to the possibility of
buying more bonds to stimulate the economy, but conditions might
need to worsen for a consensus to build, minutes from the
central bank's June meeting released on Wednesday showed.

* Finance Minister Wolfgang Schaueble said on Wednesday he
hoped Germany's Constitutional Court would pass judgment on the
EU's bailout fund and fiscal pact before autumn, suggesting he
expects the decision to take months rather than weeks.

* Credit Suisse cut 2012 gold price forecast to $1,680 an
ounce from its prior forecast of $1,765 an ounce, and lowered
silver price forecast to $30.50 from $33.50. Growing concerns
about debt deflation and improving growth prospects in the
global economy are the two scenarios in which gold would perform
poorly, the bank said.
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MARKET NEWS
* The Dow and the Nasdaq lost ground on Wednesday as minutes
from the Federal Reserve's June meeting showed policymakers are
open to the idea of more economic stimulus, but that conditions
might need to worsen first.
* The dollar stood close to a one-year high against a basket
of major currencies on Thursday in Asia, having pushed the euro
to a two-year low after the minutes from the Fed meeting.

DATA/EVENTS
0300 Japan Rate decision July
0530 India Industrial Output yy July
0900 EZ Industrial production yy May
1230 U.S. Jobless claims Weekly

PRICES
Precious metals prices 0036 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1575.29 -0.46 -0.03 0.73
Spot Silver 27.05 -0.02 -0.07 -2.31
Spot Platinum 1422.43 -1.57 -0.11 2.11
Spot Palladium 578.31 0.83 +0.14 -11.37
COMEX GOLD AUG2 1575.50 -0.20 -0.01 0.56 1093
COMEX SILVER SEP2 27.05 0.03 +0.10 -3.10 421
Euro/Dollar 1.2235
Dollar/Yen 79.60
COMEX gold and silver contracts show the most active months

(Reporting by Rujun Shen; Editing by Himani Sarkar)