SINGAPORE (Reuters) - Gold retreated for a third session in a row on Thursday after comments from Federal Reserve officials and minutes of the U.S. central bank's meeting last month suggested that a rate increase in June remained on the cards despite recent weak data.
FUNDAMENTALS
* Spot gold > was off 0.1 percent at $1,201 an ounce by 0022 GMT.
* Bullion hit a session low of $1,197.45 on Wednesday after two Fed officials said the U.S. central bank could still increase interest rates in June. The minutes of the Fed's March 17-18 meeting showed it concluded with the Fed opening the door to a June rate hike, and that "several participants" went on record saying they expected upcoming economic data would warrant an initial rate increase that month.
* Data last week showing U.S. jobs grew at the slowest pace in more than a year in March fuelled expectations that a rate hike could happen later than June, sending gold to a seven-week peak above $1,220 on Monday.
* U.S. gold for June delivery
* Newmont Mining Corp
* For the top stories on metals and other news, click [TOP/MTL] or [GOL/]
MARKET NEWS
* The dollar hovered at one-week highs early on Thursday, having enjoyed another leg up after two influential Fed officials kept alive expectations for a hike in interest rates sometime this year. [USD/]
DATA AHEAD (GMT)
0600 Germany Industrial output Feb
0600 Germany Trade data Feb
1230 U.S. Weekly jobless claims
1400 U.S. Wholesale inventories Feb
Precious metals prices 0022 GMT
Metal Last Change Pct chg YTD pct chg
Spot Gold 1201.00 -1.40 -0.12 1.47
Spot Silver 16.45 0.00 +0.00 5.04
Spot Platinum 1159.00 -4.98 -0.43 -3.41
Spot Palladium 752.98 -2.07 -0.27 -5.01
COMEX GOLD JUN5 1200.80 -2.30 -0.19 1.41
COMEX SILVER MAY5 16.44 -0.02 -0.12 5.36
Euro/Dollar 1.0779
Dollar/Yen 120.17
COMEX gold and silver contracts show the most active months
(Reporting by Manolo Serapio Jr.; Editing by Ed Davies)
