* Firm dollar pressures precious metals
    * Spot gold could fall to $1,542/oz - technicals
    * Coming up: Italy bond sale

 (Adds details, comments; updates prices)	
    By Rujun Shen	
    SINGAPORE, Dec 29 (Reuters) - Gold wallowed near a
three-month low on Thursday, remaining under pressure due to a
firm dollar, while investors fretted over an important Italian
bond auction later in the day.	
    The dollar index traded steady after surging in the
previous session, as investors grew increasingly nervous over a
key Italian bond auction scheduled on Thursday even after a
strong sale of short-term bonds. 	
    Worries that the euro zone debt crisis was spinning out of
control have depressed the financial markets in the past few
months. Even gold, seen as a safe haven during economic woes,
succumbed to the gloom.	
    Cash gold was headed for a quarterly fall of more than 4
percent, its first quarter in the red in three years. It was on
course for an annual rise of under 10 percent, after two years
marked by growth rates higher than 20 percent.	
    "Gold is still up on the year and there are relatively few
markets moving in the positive territory," said Nick Trevethan,
Senior Commodity Strategist at ANZ. "People close their
profitable positions to cash out before the year-end."	
    Spot gold was little changed at $1,555.69 an ounce by
0303 GMT, on course for an 11-percent decline in December. It
hit a three-month low of $1,549.24 in the previous session.	
    U.S. gold lost 0.4 percent to $1,557.50.	
    Technical analysis suggested spot gold could drop to $1,542
an ounce during the day, said Reuters market analyst Wang Tao.
 	
    	
    	
    The 2.5-percent drop in gold prices in the previous session
failed to impress Asia's physical buyers, who have mostly moved
to the sidelines of the market as they wait for the new year.	
    "Many clients are closing for the year already," said a
Singapore-based dealer. "But supply is hard to come by and we
are struggling to get supply for the beginning of next year."	
    Premiums in Singapore were quoted in a range of $1 to $1.50,
steady from a week earlier, and around $2 in Hong Kong, dealers
said.	
    Supply shortage due to refinery closures at the year-end,
but not high demand, is to blame for the high premiums, they
added.	
    "The current price is not very attractive for buyers, who
hope that the euro zone situation will further pressure prices,"
said a Hong Kong-based dealer, adding that $1,500 would attract
much physical buying interest.	
    Spot silver dropped 1 percent to a three-month low of
$26.76, after prices fell more than 5 percent in the previous
session. It traded at $26.97, on course for a monthly fall of
nearly 18 percent and a third consecutive quarter of losses.	
    Spot platinum fell to $1,363.75, its lowest in two
years, and recovered slightly to $1,366.25, down 1.1 percent. 	
    The metal, mainly used in jewellery and autocatalysts, was
headed for a 23-percent decline on the year, the worst performer
in the precious metals complex.
 	
      Precious metals prices 0303 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1555.69    0.50   +0.03      9.60
  Spot Silver        26.97   -0.07   -0.26    -12.61
  Spot Platinum    1366.25  -15.74   -1.14    -22.70
  Spot Palladium    628.71   -5.78   -0.91    -21.36
  TOCOM Gold       3891.00  -82.00   -2.06      4.34        53406
  TOCOM Platinum   3439.00 -161.00   -4.47    -26.77        15319
  TOCOM Silver       66.90   -4.10   -5.77    -17.41          874
  TOCOM Palladium  1584.00  -78.00   -4.69    -24.46          279
  COMEX GOLD FEB2  1557.50   -6.60   -0.42      9.58         6826
  COMEX SILVER MAR2  26.98   -0.26   -0.95    -12.82         1447
  Euro/Dollar       1.2935
  Dollar/Yen         77.78
  TOCOM prices in yen per gram. Spot prices in $ per ounce.
  COMEX gold and silver contracts show the most active months

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