Gold edges up despite firm dollar

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Gold began the new year quietly, edging up slightly on Tuesday, despite pressure from a strong dollar.
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    FUNDAMENTALS
* Spot gold rose 0.2 percent to $1,154.26 per ounce at 0109 GMT.
* Bullion gained more than 8 percent in 2016, snapping three years of declines.
* U.S. gold futures rose 0.3 % at $1,155.4
* The most active COMEX gold futures contract finished 2016 up 7.1 percent as compared to the end of 2015 after strong gains on economic uncertainty earlier in the year were pared by heavy selling as the U.S. dollar rallied following the U.S. presidential election.
* The dollar index - which measures the greenback against six major rivals - climbed over half a percent.
* The U.S. dollar held on to broad gains on Tuesday, resuming its ascent after last week's brief wobble as the prospect of rising U.S. interest rates this year kept sentiment bullish on the long-run.
*SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.14 percent to 822.17 tonnes on Friday from 823.36 tonnes on Thursday.


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