PRECIOUS-Gold inches up after sharp falls, dollar pressures

SINGAPORE, Jan 21 (Reuters) - Spot gold edged up on Friday, recovering from a decline of two percent in the previous session, as the rebound in the dollar continued to pressure prices after U.S. data showed the economy was on a steadier footing.

FUNDAMENTALS

* Spot gold edged up 0.1 percent to $1,346.91 an ounce by 0030 GMT, after sliding to a two-month low of $1,342.65 in the previous session.

* U.S. gold futures were little changed, at $1,346.7.

* The CME Group raised its margin requirement on gold futures <0#GC:> by 11 percent and silver futures <0#SI:> by six percent.

* U.S. home resale figures jumped more than expected in December and claims for new jobless claims last week posted their biggest decline in nearly a year, showing two key economic trouble spots on the mend.

* The dollar clung on to overnight gains early in Asia on Friday in the wake of upbeat data, even as the euro held its ground with investors wary of getting too bearish on the common currency after a recent rally turned sentiment around.

* Spot silver was steady at $27.53, off the two-month low of $27.40 hit in the previous session. Silver is the worst performer in the precious metals complex, down nearly 11 percent so far this year.

MARKET NEWS

* Stocks fell on Thursday as lackluster tech and materials earnings failed to live up to heightened expectations, threatening to short-circuit a seven-week run.

DATA/EVENTS (GMT) 0630 China Final trade data Dec 0758 France Markit/CDAF Mfg FlashPMI Jan 0900 Germany Ifo business climate Jan 0900 Germany Ifo current conditions Jan 0900 Germany Ifo expectations Jan 1400 EZ Euroilstock refinery output Dec 1530 U.S. ECRI index Weekly -- U.S. General Electric earnings Q4

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PRICES Precious metals prices 0030 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 1346.91 1.51 +0.11 -5.11 Spot Silver 27.53 0.05 +0.18 -10.79 Spot Platinum 1806.49 -2.01 -0.11 2.21 Spot Palladium 805.72 -2.75 -0.34 0.78 TOCOM Gold 3607.00 -18.00 -0.50 -3.27 34674 TOCOM Platinum 4880.00 13.00 +0.27 3.92 5189 TOCOM Silver 73.50 -2.00 -2.65 -9.26 1546 TOCOM Palladium 2157.00 15.00 +0.70 2.86 703 Euro/Dollar 1.3457 Dollar/Yen 82.96 TOCOM prices in yen per gram. Spot prices in $ per ounce. (Reporting By Rujun Shen;Editing by Clarence Fernandez)

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