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PRECIOUS-Gold inches up, set for third straight weekly gain

BENGALURU, June 17 (Reuters) - Gold edged up in early trade
on Friday after registering its biggest one-day fall in over
three weeks in the previous session, supported by a weaker
dollar, and was still headed for a third straight weekly gain.  
        
    FUNDAMENTALS
    * Spot gold was up 0.2 percent at $1,281.30 an ounce
at 0107 GMT. Bullion, which has risen 0.7 percent this week so
far, fell one percent on Thursday to notch up its biggest
one-day loss since May 24.
    * U.S. gold fell one percent to $1,285
    * On a topsy-turvy Thursday, the safe haven asset breached
the $1,300 level and hit a peak of $1,315.55 to touch a near two
year high before turning one percent lower following the
suspension of campaigning for next week's Brexit referendum in
Britain.
    * A British member of parliament was shot dead in the street
on Thursday, causing deep shock across the country and the
suspension of campaigning for referendum on the country's EU
membership. 
    * The yen held at multi-year highs against the dollar and
euro early on Friday, having surged across the board after the
Bank of Japan refrained from adding fresh stimulus while
sterling staged a rebound in a volatile session. 
    * Federal Reserve Chair Janet Yellen will appear before
lawmakers in the House of Representatives on Wednesday to
discuss monetary policy and the state of the economy, officials
said.    
    * Glencore is planning to sell its option in a gold
mine owned by Falco Resources, two sources familiar with
the situation said on Thursday, as the mining group and
commodities trader presses ahead with asset sales. 
    * Asian physical gold demand remained subdued this week as
the metal rallied to its highest in nearly two years, with
discounts in India widening the most in 3-1/2 months as
consumers shied away from making new purchases. 
    * Holdings in SPDR Gold Trust, the world's largest
gold-backed exchange-traded fund, rose 0.20 percent to 902.53
tonnes on Thursday, the highest since October 2013.   
    * For the top stories on metals and other news, click
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    DATA AHEAD (GMT)
    0800  Euro zone current account              Apr 
    0900  Euro zone labour costs                 Q1 
    1230  U.S. housing starts                    May 
    1230  U.S. building permits                  May 

 (Reporting by Vijaykumar Vedala in Bengaluru; Editing by
Richard Pullin)
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