March 29 (Reuters) - Gold prices fell on Monday as the U.S.
dollar firmed against a basket of rival currencies, with rising
appetite for riskier assets on the back of economic recovery and
higher vaccination rates denting the metal's safe-haven status.
FUNDAMENTALS
* Spot gold XAU= fell 0.2% to $1,727.91 per ounce by 0129
GMT. U.S. gold futures GCv1 declined 0.4% to $1,726.00 per
ounce.
* The dollar began the week firmly as U.S. economic strength
and a vaccine rollout proceeding much more quickly than in
Europe, drew investors into the greenback. USD/
* A stronger dollar makes greenback-denominated gold
expensive for holders of other currencies.
* Asian shares inched higher as the chance of yet more
trillions in U.S. fiscal spending underpinned the global growth
outlook. MKTS/GLOB
* Annual profits at China's industrial firms surged in the
first two months of 2021, highlighting a rebound in the
country's manufacturing sector and a broad revival in economic
activity. * U.S. consumer spending fell by the most in 10 months in
February as a cold snap gripped many parts of the country and
the boost from a second round of stimulus checks to middle- and
lower-income households faded. * Bank of England rate-setters Michael Saunders and Silvana
Tenreyro on Friday played down risks of a sustained surge in
inflation when Britain's economy recovers from its pandemic
crash, and Tenreyro said more stimulus might yet be
needed. * Hedge funds and money managers raised their bullish
positions in COMEX gold and cut them in silver contracts in the
week to March 23, the U.S. Commodity Futures Trading Commission
(CFTC) said on Friday. CFTC/
* SPDR Gold Trust GLD , the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.6% to 1,036.62
tonnes on Friday from 1,043.03 tonnes on Thursday. GOL/ETF
* Silver XAG= fell 0.8% to $24.84, palladium XPD= rose
0.1% to $2,677.10 and platinum XPT= fell 0.6% to $1,177.9.