SINGAPORE, March 15 (Reuters) - Gold regained some
strength on Thursday after a drop in the previous session
attracted bargain hunters, but a strong dollar and fading
expectations of more monetary easing in the United States made
the metal vulnerable to more selling. 	
     The physical market lacked activity as jewellers looked for
a bargain, while bullion holders shifted their money into
equities after strong U.S. economic data and accommodative
monetary policies by global central banks sent investors back
into risk assets.	
    Spot gold added $4.69 an ounce to $1,646.79 an ounce
by 0339 GMT. Gold extended losses and fell more than 2 percent
on Wednesday -- a day after the Federal Reserve offered no clues
on further easing.	
    "Sentiment is of course very bad, I can say. After slipping
below $1,650, it may go down further to $1,600," said Ronald
Leung, director of Lee Cheong Gold Dealers in Hong Kong, adding
that a rebound will be capped at $1,675 to $1,680.	
    "Safe-haven (appeal) is forgotten for the time being. The
demand is sluggish because of the strong dollar. Speculators
dumped their gold." 	
     Gold has fallen around 8 percent since late February as
funds appeared to have closed out of their bullish gold bets on
worries the Fed has no intention to embark on another round of
major asset purchases to keep interest rates and borrowing costs
low. 	
    Bullion rose to a record of around $1,920 last September on
fears the euro debt crisis could stall global growth.     	
     U.S. April gold rose $4.90 to $1,647.80 an ounce.  
    	
     	
      The dollar rallied to a 11-month high against the yen and
a one-month peak against the euro on Thursday on growing
optimism on the U.S. economic recovery and subsequent rises in
U.S. bond yields. 	
     In theory, a firmer dollar hurt dollar-based commodities
such as gold, as well as industrial metals such as copper, which
is weighed by concerns about slowing demand from China, the
world's largest consumer of the metal. 	
    China's Premier Wen Jiabao said on Wednesday that China must
embrace slower growth and bolder political reform to keep its
economy from faltering and to spread wealth more
evenly. 	
    But a Reuters polls found developed economies will pick up
steam this year thanks to an array of ultra-loose monetary
policies from major central banks and amid new signs of progress
in the euro zone's debt crisis. 	
     In the physical market, a lack of buying from jewellers
despite a recent drop in prices rattled the nerves of some
physical dealers.  	
    "I guess the dynamics have changed. Customers will only take
gold if there's a need to. Otherwise, there's no commitment,"
said a dealer in Singapore. "I have not been here in the
business for 20 years yet, but I feel the change." 	
    In the equity market, the Nikkei rose on Thursday, extending
the previous session's rally that helped the index close above
10,000 for the first time in seven months, as exporters advanced
on the back of a weaker yen. 	
   	
  Precious metals prices 0339 GMT
  Metal             Last    Change Pct chg  YTD pct chg Volume
  Spot Gold        1646.79    4.69  +0.29      5.31
  Spot Silver        32.21    0.11  +0.34     16.32
  Spot Platinum    1665.00   -5.68  -0.34     19.53
  Spot Palladium    694.22   -0.99  -0.14      6.39
  COMEX GOLD APR2  1647.80    4.90  +0.30      5.17     16338
  COMEX SILVER MAY2  32.22    0.04  +0.12     15.42      3428
  Euro/Dollar       1.3036
  Dollar/Yen         84.06

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