PRECIOUS-Gold extends losses as U.S. dollar bounces

                                
 SINGAPORE, Sept 21 (Reuters) - Gold slipped further on
Monday after a volatile time last week, when it raced towards
last year's record around $1,030 an ounce before the dollar's
rebound from a 1-year low against the euro spurred selling.
                                
 FUNDAMENTALS
                                
 * Spot gold <XAU=> was quoted at $1,005.60 an ounce, down
$0.55 from New York's notional close on Friday. Gold hit an
18-month high of $1,023.85 on Thursday on uncertainties over
the sustainability of the global economic recovery.
                                
 * International Monetary Fund member countries on Friday
formally endorsed a plan for strictly limited sales of 403.3
tonnes of gold from its stockpile and said on-market sales
would be made in a manner that did not disrupt gold markets.
[ID:nN18272627]
                                
 * The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust <GLD>, said its holdings stood unchanged at
1,086.479 tonnes on Sept. 18. <XAUEXT-NYS-TT>  [GOL/SPDR]
                                
 * The noncommercial net long position in gold futures on
the COMEX division of the New York Mercantile Exchange stood at
an all-time high of 235,647 lots for the week ended Sept. 15,
data from the Commodity Futures Trading Commission showed.
[ID:nN18268348]
                                
 * U.S. gold futures for December delivery <GCZ9> fell $3.40
an ounce at $1,006.90 on the COMEX division of the New York
Mercantile Exchange.
                                
 * Trading was thin in Asia, with Japanese markets closed
for a long holiday. The physical market in Singapore was also
closed for a Muslim holiday.
                                
 * Platinum <XPT=> was at $1,328 an ounce, up $1 from New
York's notional close.
                                
 MARKET NEWS
                                
 * Oil was little changed just below $72 a barrel on Monday,
pausing after a decline in the previous session that was
encouraged by a bounce in the U.S. dollar. [O/R]
                                
 * U.S. stocks rose on Friday as Procter & Gamble and major
home builders advanced on positive brokerage comments and
investors bet the economic recovery will be strong enough to
sustain corporate profits. [.N]
                                
 * The dollar rebounded from a one-year low against the euro
on Friday as waning risk appetite cut demand for
higher-yielding currencies and boosted safe-haven demand for
the greenback, while sterling declined and hit a near
five-month low euro on renewed concerns about the U.K. banking
sector. [USD/]
                                
 * Indian gold buyers re-emerged on Friday to stock up for
festivals as prices steadied after nearing their record high in
the previous session. India celebrates the festival of Dussera
later this month and Diwali and Dhanteras in October, a
traditional gold-buying time that is expected to revive sagging
gold sales. [GOL/IN]
                                
 DATA EVENTS
                                
 * The following data is expected on Monday: <ECON>
                                
 - IMF news meet on Oct financial stability  -1300 GMT
                                
 - U.S. leading indicators for August        -1400 GMT
                                
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  PRICES
  Precious metals prices at 0030 GMT
 Metal         Last      Change  Pct chg  Day ago pct  MA 30
RSI  Spot gold    $1005.60   -$0.55  -0.05%   +12.11%   $860.10
  42
 Spot silver    $16.87   -$0.09  -0.53%   +40.82%     $11.29 
69
 Spot plat    $1328.00    $1.00  +0.08%    +0.26%   $1274.15 
67
 COMEX gold   $1005.70   -$3.70  -0.37%    -0.68%    $970.37 
66
 Currencies                                               
Euro/dlr       $1.471   $0.003  +0.18%    +0.03%
 Dlr/yen         91.39    -0.07  -0.08%    +0.12%
 (Reporting by Lewa Pardomuan; Editing by Clarence Fernandez)