PRECIOUS-Gold gets closer to yearlong lows in dollar bounce

      * Dollar strengthens after Trump's comments last week
* Trump spat with Iran has little effect on gold prices
* Gold hovers above the strong technical support at
$ 1,200 - $ 1,220
* Prices should rebound to a $ 1,300 survey -Reuters

(Update prices, add comment, NEW YORK date)
By Devika Krishna Kumar and Peter Hobson
NEW YORK / LONDON, July 23 (Reuters) - Gold prices have fallen
yearlong lows on Monday as the US dollar is maintained
against the currencies of the main consumers of ingots China and India.

Gold has fallen 10% since mid-April
the greenback has made more expensive dollar bullion for
buyers with other currencies.
There was a little respite for gold last week when the United States
President Donald Trump has described the strength of the dollar as bad for
the economy, hitting the currency of the one-year highs, but the
the breather has proved to be short-lived.
"We see an offer in the dollar that drives gold
low today, but we think the dollar is about to weaken
forward, so we see higher gold in the short term, two
to three months of prospects, "said Daniel Ghali, commodities
Strategist at TD Securities.
Spot gold was down 0.5% to $ 1,224.67 the ounce
before 14:36 ​​EDT (1836 GMT), close to Thursday's low
$ 1,211.08, while American gold futures for August delivery
established 0.4% to $ 1,225.60.
A war of words between Trump and Iranian President Hbadan
Rouhani helped raise prices only briefly.
Trump, in a tweet, told Rouhani Sunday to "never, never
THREATS TO THE UNITED STATES "after Rouhani said that
hostile policies in the United States with regard to Tehran could lead to 'the mother
of all wars ".
Geopolitical instability often stimulates gold, traditionally
considered a safe place to invest in times of uncertainty.
The fall of gold in recent months has led banks and brokerages
to lower their average gold price forecast for this year
and then, according to a Reuters poll released Monday.

But respondents are still waiting for the metal to rebound
about $ 1,300 an ounce.
A positive potential is a shift in speculative positioning
who saw the net net of the funds on the Comex exchange grow to his
the most important since January 2016.
"Such extreme positioning has often been an indicator
of a pronounced counter-move in the near future, "Commerzbank
the badysts wrote.
Gold is also cushioned by technical support around
From $ 1,200 to $ 1,220, including its low of $ 1,204.90 in July
Fibonacci retracement percentage of the 2016 rally and the
psychologically significant level of $ 1,200.
"I doubt the dollar can keep its gains
following the action of last week's prices, so I'm waiting for the gold to
least go a little higher this week with resistance coming to
$ 1,236 being our short-term bullish goal, "said Fawad
Razaqzada, Forex.com market badyst.
Silver was down 0.85% to $ 15.34 an ounce after
last week's drop to its lowest since July last year. respondents
in the Reuters poll predicts that money would bounce back and
average $ 16.70 this year.
Platinum was little changed at $ 826.50 an ounce after
last week touching its lowest since 2008 while the palladium
rose from last week's low and rose 2.2 percent to
$ 913.5.
Prices for both metals should rise to normal
levels, with platinum averaging $ 922 an ounce this
the year and palladium averages $ 1,000, according to a Reuters poll.


(Additional report by Renita D. Young in New York Karen
Rodrigues in Bangalore
Edited by Dale Hudson, David Goodman and Frances Kerry)