Feb 17 (Reuters) - Gold fell on Monday as the U.S. dollar
hovered close to a more-than four-month high, while concerns
about the economic impact of the coronavirus outbreak weighed on
Asian equities, limiting bullion's downside.
FUNDAMENTALS
* Spot gold XAU= was down 0.2% at $1,581.81 per ounce, as
of 0058 GMT.
* U.S. gold futures GCv1 slipped 0.1% to $1,584.80.
* The dollar index, which measures the greenback against a
basket of six major currencies, was at 99.14 on Monday after
rising to 99.17 in the previous session, the highest since Oct.
8. The rising dollar makes greenback-denominated gold costlier
for investors paying for the metal with other currencies.
* The number of reported new cases of coronavirus in China's
Hubei province rose on Monday, as authorities imposed tough new
restrictions on movement to prevent the spread of the disease
which has now killed more than 1,700 people. * Asian shares stepped back from three-week highs as
investors weighed the near-term hit on global growth from a
fast-spreading virus outbreak in China. MKTS/GLOB
* Singapore downgraded its 2020 economic growth forecast as
it braces for a hit from the epidemic, the trade ministry said
in a statement on Monday. * The epidemic could be a drag on the U.S. economy this
quarter, Cleveland Federal Reserve Bank President Loretta Mester
said on Friday * The London Metal Exchange has cancelled its annual LME
Asia Week dinner in Hong Kong and postponed the seminar that
would have taken place on the same day due to the outbreak, the
exchange said in a notice on Friday. * Russia's central bank has maintained the discount at which
it buys gold for its reserves at December's peak level, it told
Reuters on Friday, potentially prompting more local producers
and bankers to export the metal. * Holdings in the world's largest gold-backed
exchange-traded fund, SPDR Gold Trust GLD , rose 0.2% to 923.99
tonnes on Friday from 922.23 tonnes on Thursday. GOL/ETF
* Speculators increased their bullish positions on COMEX
gold, while they cut their bullish bets on silver contracts in
the week to Feb. 11, the U.S. Commodity Futures Trading
Commission (CFTC) said on Friday. * Palladium XPD= was steady at $2,431.10 an ounce, silver
XAG= was flat at $17.72, while platinum XPT= was up 0.3% at
$965.49.
DATA/EVENTS AHEAD (GMT)
1100 EU Reserve Assets Total Jan