PRECIOUS-Gold sinks to 9-month low as Fed remarks boost dollar, bond yields


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    March 5 (Reuters) - Gold slumped to a near nine-month low on
Friday and headed for a third straight weekly decline after
Federal Reserve Chair Jerome Powell disappointed investors with
his view on rising yields that pushed up the dollar and bond
    * Spot gold  XAU=  eased 0.2% to $1,693.79 per ounce by 0055
GMT, having earlier dropped to its lowest since June 8 at
$1,688.96. It was down 2.3% for the week so far.
    * U.S. gold futures  GCv1  dropped 0.6% to $1,691.20. 
    * Powell on Thursday repeated his pledge to keep credit
loose and said although the rise in yields was "notable", he did
not consider it a "disorderly" move.*:nL2N2L2262
    * The U.S. 10-year yield topped 1.5%, while the dollar
surged to three-month highs. Higher yields increase the
opportunity cost of holding bullion, which pays no
interest. USD/  US/     
    * U.S. jobless claims rose last week after brutal winter
storms in mid-February.*:nL2N2L132M
    * The amount of gold held by exchange traded funds fell by
84.7 tonnes worth $4.6 billion in February, the World Gold
Council (WGC) said.*:nL2N2L21GA
    * CME Group Inc  CME.O  decreased margins for COMEX 100 Gold
Futures contracts by 9.1%.*:nL3N2L24LX
    * Holdings of the world's largest gold-backed
exchange-traded fund, SPDR Gold Trust  GLD  fell 0.4% on
Thursday. GOL/ETF 
    * Silver  XAG=  rose 0.2% to $25.35 an ounce, but was down
5% for the week so far, its worst since late-November.
    * Palladium  XPD=  climbed 0.2% to $2,343.55. Platinum
 XPT=  shed 1.2% to $1,113.02.    
0700  Germany  Industrial Orders MM     Jan
0745  France   Reserve Assets Total     Feb
0830  UK       Halifax House Prices MM  Feb
1330  US       Non-Farm Payrolls        Feb
1330  US       Unemployment Rate        Feb
1330  US       Average Earnings YY      Feb
1330  US       International Trade      Jan
2000  US       Federal Reserve issues Consumer Credit for

 (Reporting by Sumita Layek in Bengaluru; editing by Uttaresh.V)
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