PRECIOUS-Gold slips for second day on stimulus worries
SINGAPORE, Aug 22 (Reuters) - Gold fell for a second session on Thursday after minutes from a Federal Reserve policy meeting failed to ease fears that the U.S. central bank would begin tapering its economic stimulus from next month.
* Spot gold had declined 0.6 percent to $1,357.31 an ounce by 0016 GMT, after falling 0.3 percent the day before. U.S. gold dropped $13 to $1,357.10.
* The minutes of the Fed's July 30-31 meeting, released on Wednesday, showed that a few officials thought last month it would soon be time to slow the pace of their bond buying "somewhat" but others counseled patience.
* U.S. Treasury yields jumped to levels last seen in July 2011 as markets interpreted the minutes to mean the Fed did not completely rule out a scale back from next month.
* In June, Fed Chairman Ben Bernanke said the bank expected to trim stimulus later this year and to halt it by mid-2014, prompting the markets to believe the tapering would begin in September.
* South Africa's National Union of Mineworkers said on Wednesday it would ballot its members this week on whether to go on strike after gold miners' wage talks stalled, raising the prospect of crippling stoppages in an industry in terminal decline.
* SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.07 percent to 913.52 tonnes on Wednesday.
* Louis Bacon's Moore Capital Management has agreed to pay $48.4 million to settle a class-action lawsuit asserting that the hedge fund manipulated platinum and palladium prices, the plaintiff's lead attorney said on Wednesday.
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* The dollar gained on expectations the Fed would taper its asset-buying programme next month, while Asian markets look set for a rough ride on Thursday.
DATA/EVENTS (GMT) 0145 China HSBC Manufacturing Flash PMI 0658 France Markit Manufacturing Flash PMI 0728 Germany Markit Manufacturing Flash PMI 0758 Euro zone Markit Manufacturing Flash PMI 1230 U.S. Weekly jobless claims 1258 U.S. Markit Manufacturing Flash PMI 1300 U.S. FHFA home price index 1400 U.S. Leading indicators
Precious metals prices 0016 GMT
Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1357.31 -8.43 -0.62 -18.94 Spot Silver 22.51 -0.33 -1.44 -25.66 Spot Platinum 1503.99 -2.41 -0.16 -2.02 Spot Palladium 739.00 -2.50 -0.34 6.79 COMEX GOLD DEC3 1357.10 -13.00 -0.95 -19.02 6345 COMEX SILVER SEP3 22.53 -0.43 -1.89 -25.66 3045 Euro/Dollar 1.3340 Dollar/Yen 97.76
COMEX gold and silver contracts show the most active months
(Reporting by A. Ananthalakshmi)