SINGAPORE, March 5 (Reuters) - Gold hovered around
$1,710 an ounce on Monday after suffering its biggest one-week
loss, as a stronger dollar weighed on market sentiment and
investors watched the latest developments in the euro zone debt
crisis.	
    	
    FUNDAMENTALS	
    * Spot gold was little changed at $1,712.36 an ounce
by 0041 GMT, after posting a weekly decline of 3.9 percent in
the previous session.	
    * U.S. gold edged up 0.2 percent to $1,713.80.	
    * Spain set itself a softer deficit target for 2012 than
originally agreed under the euro zone's austerity drive, putting
a question mark over the credibility of the European Union's new
fiscal pact. 	
    * Money managers, including hedge funds and other large
speculators, raised their bullish bets in gold to the highest
level in five month in the week of Feb. 28, as prices surged
more than 4 percent to three-month highs before they corrected
sharply. 	
    * Investors will be watching China's annual meeting of
parliament, the National People's Congress, for hints of policy
shifts that will direct the cause of the world's second largest
economy.	
    * For the top stories on metals and other news, click
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    MARKET NEWS	
    * The dollar touched a fresh two-week high against a basket
of major currencies in Asia on Monday, benefiting by default as
both the euro and yen appeared to be used as funding currencies
to buy higher yielding assets. 	
    * The S&P and Nasdaq notched their eighth week of gains out
of the last nine, but momentum ran out on Friday as stocks ended
the day lower in a thinly traded session. 	
      	
    DATA/EVENTS	
 0858  EZ        Markit Services PMI           Feb                 
 1500  U.S.      ISM N-Mfg PMI                 Feb                 
 1500  U.S.      ISM N-Mfg Bus Act             Feb               
 1500  U.S.      Factory orders                Jan 
    	
    PRICES	
    	
 Precious metals prices 0041 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1712.36    0.59   +0.03      9.50
  Spot Silver        34.75    0.31   +0.90     25.50
  Spot Platinum    1689.00   -4.12   -0.24     21.25
  Spot Palladium    708.72    8.72   +1.25      8.62
  COMEX GOLD APR2  1713.80    4.00   +0.23      9.38         3943
  COMEX SILVER MAY2  34.82    0.30   +0.85     24.74          886
  Euro/Dollar       1.3194
  Dollar/Yen         81.56
  COMEX gold and silver contracts show the most active months

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