PRECIOUS-Gold treads water ahead of Trump speech, Fed meeting

Jan 31 (Reuters) - Gold marked time early on Wednesday amid a firm dollar and rising bond yields as markets waited for U.S. President Donald Trump's annual State of the Union address and the outcome of the Federal Reserve's two-day meeting.


* Spot gold was little changed at $1,337.60 per ounce at 0114 GMT.

* U.S. gold futures were up 0.2 percent at $1,337.60 per ounce.

* Gold prices have risen 2.8 percent so far this month, their best month since August, largely due to weakness in the dollar.

* The dollar remains on track for its biggest monthly decline since March 2016.

* The U.S. Treasury 10-year note yield touched its highest in nearly four years overnight at 2.733 percent,

while 30-year bond yield climbed to its highest

since May 2017.

* Traders are cautious ahead of a slate of events this week, including the Fed monetary policy meeting that ends on Wednesday and a U.S. jobs report on Friday that will include data on nonfarm payrolls and average hourly earnings.

* Yields rose after the start of the Fed's two-day meeting on Tuesday. Markets are bracing for potentially hawkish language amid signs that U.S. economic growth is picking up steam.

* Investors will also be closely watching Trump's annual State of the Union speech for comments on the dollar.

* SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.14 percent to 845.49 tonnes on Tuesday from 846.67 tonnes on Monday.

* A surge in platinum prices this month has seen the metal used in autocatalysts break above a downward trendline in place since early 2013, the first indication of a turnaround in momentum after years of decline led to stagnation.

* Zimbabwe's gold production is projected to rise to a record 30 tonnes this year as producers ramp up output, a chamber of mines official said on Tuesday.

* Swiss gold exports fell last year to their lowest since the records became public in 2012, while imports slipped to their weakest since 2014.

* Gold prices in India, the world's second-biggest user of the precious metal, were at discounts as jewellers were postponing purchases on the expectation that the government will announce an import tax cut in its annual budget on Thursday.


0100 China Official manufacturing PMI Jan 0100 China Official services PMI Jan 0700 Germany Retail sales Dec 0745 France Producer prices Dec 0900 Germany Unemployment rate Jan 1000 Euro zone Inflation flash Jan 1000 Euro zone Unemployment rate Dec 1315 U.S. ADP national employment Jan 1445 U.S. Chicago PMI Jan 1500 U.S. Pending homes sales Dec

1900 Federal Reserve releases statement after two-day

(Reporting by Nallur Sethuraman in Bengaluru; editing by Richard Pullin)