PRECIOUS-Gold slips on stimulus concerns
SINGAPORE, June 13 (Reuters) - Gold fell on Thursday after volatile trading in the previous session on persistent concerns about central banks' support for their economies.
* Spot gold had fallen 0.2 percent to $1,384.84 an ounce by 0003 GMT. It closed up on Wednesday after earlier losses as U.S. stock markets dropped sharply.
* U.S. gold was down 0.5 percent at $1,384.70.
* The Bank of Japan's decision on Tuesday to leave its policies unchanged spooked investors already worried the U.S. Federal Reserve would soon curb its bond-buying programme, denting bullion's appeal as a hedge against inflation.
* China, which was closed for three days for the Dragon Boat festival, will open on Thursday. That could potentially support gold prices, which fell during Asian trading sessions earlier this week due to the lack of buying from the No. 2 bullion consumer.
* Societe Generale on Wednesday lowered its gold price outlook for the fourth quarter by $175 to $1,200 per ounce, citing continued redemptions by exchange-traded funds owing to higher bond yields and a stronger dollar.
* Indian gold demand remained subdued, and importers and wholesalers struggled to sell supplies from May. The government has raised the import duty on gold by a third and put curbs on gold financing by banks and others as it tries to reduce its current account deficit.
* Freeport-McMoRan Copper & Gold Inc on Wednesday declared force majeure to free itself from obligations to deliver copper concentrate from its Grasberg mine in Indonesia, where work has been suspended after a May accident that killed 28 people.
* The company said the suspension has so far impacted some 36,000 tonnes of copper output at Grasberg and 80,000 ounces of gold.
* Barrick Gold Corp says it will take until December of next year to build the water infrastructure needed to meet Chilean environmental requirements for the miner to restart its $8.5 billion Pascua-Lama gold project in the Andes.
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* The U.S. dollar was at a near four-month low against a basket of major currencies early in Asia on Thursday.
DATA/EVENTS (GMT) 1230 U.S. Import prices 1230 U.S. Retail sales 1230 U.S. Jobless claims 1400 U.S. Business inventories
Precious metals prices 0003 GMT
Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1384.84 -2.95 -0.21 -17.30 Spot Silver 21.68 -0.17 -0.78 -28.40 Spot Platinum 1475.24 -3.26 -0.22 -3.89 Spot Palladium 755.22 1.22 +0.16 9.14 COMEX GOLD AUG3 1384.70 -7.30 -0.52 -17.37 1227 COMEX SILVER JUL3 -- -- -- -- - Euro/Dollar 1.3347 Dollar/Yen 95.48
COMEX gold and silver contracts show the most active months
(Reporting by A. Ananthalakshmi; Editing by Joseph Radford)