• Gold prices were down slightly on Monday as the dollar clawed back some recent losses and stocks rose, but worries about U.S. inflation kept buyers in the metal.
• Spot gold was down 0.11 percent at $1,346.31 an ounce at 1:30 p.m. EST (1830 GMT). U.S. April gold futures slipped 0.54 percent to $1,348.90 per ounce.
• Gold rose 2.4 percent last week in its biggest weekly gain in more than five months.
• "Gold is doing relatively well in a risk-on environment. The safe-haven appeal (in gold) is a bit in question but it has a lot to do with movements in the dollar which has recovered somewhat," said ABN AMRO commodity strategist Georgette Boele.
• Hedge funds and money managers cut their net long positions in COMEX gold in the week to Feb. 13, U.S. Commodity Futures Trading Commission data showed on Friday.
• Trading is expected to be slower than usual this week due Lunar New Year celebrations in China. Monday is also a market holiday in the United States for Presidents Day.
• SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.39 percent to 824.54 tonnes on Friday.
• Among other precious metals, silver was down slightly at $16.657 an ounce after falling 1.2 percent in the previous session. Platinum was up 0.25 percent at $1,005.00 an ounce, after earlier touching its highest in over three weeks at$1,013.50.
Palladium fell 1.1 percent to $1,033.00 an ounce after touching its highest in about two weeks earlier in the session.
Reference: Reuters
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