Silver Spot – PRECIOUS-Gold dips as strong U.S. data sparks economic recovery hopes

    * Treasury yields fall to one-week low
    * Dollar steady after falling to a 2-week low in prior
session
    * U.S. job openings rose to a 2-yr high in February

 (Adds comments, updates prices)
    By Diptendu Lahiri
    April 7 (Reuters) - Gold prices fell on Wednesday, from a
two-week high hit in the previous session, as an array of strong
data from the United States and increased COVID-19 vaccinations
lifted hopes of a quick economic recovery, weighing on the
metal's safe-haven appeal.
    Spot gold        was down 0.3% to $1,737.75 per ounce by
0354 GMT. U.S. gold futures        slipped 0.3% to $1,738.60 per
ounce.
    "Gold is being pressured by a little bit of profit taking
after a series of strong U.S. data that indicated a quick
economic recovery," said Stephen Innes, chief global market
strategist at financial services firm Axi.
    Bullion prices had jumped on Tuesday to their highest since
March 25 at $1,745.15, as U.S. Treasury yields fell and the
dollar slipped to a two-week low against a basket of currencies.
            
    "However, the softening of the yields points towards a
situation where central banks around the globe will remain
dovish and that will support gold at least in the medium term,"
Innes said.
    In the latest spree of strong economic data, U.S. job
openings rose to a two-year high in February while hiring picked
up on strengthening domestic demand amid increased COVID-19
vaccinations and additional pandemic aid from the government.
                         
    The International Monetary Fund also raised its outlook for
global economic growth, forecasting worldwide output would rise
6% this year.             
    SPDR Gold Trust      , the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.4% to 1,029.04
tonnes on Tuesday from 1,032.83 tonnes on Monday.          
    Silver        fell 0.4% to $25.06 and palladium        was
down 0.4% at $2,674.30. Platinum        rose 0.8% to $1,242.13.

 (Reporting by Diptendu Lahiri in Bengaluru; Editing by
Subhranshu Sahu and Shailesh Kuber)