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* UK lawmakers vote on Brexit postponement later in the day
* BOJ monetary policy meeting with eyes of the market
* The money falls for the first time in five sessions
By K. Sathya Narayanan
March 14 (Reuters) – Gold fell on Thursday as the dollar had picked up ground and uncertainty about the Brexit has abated, but the metal has remained close to the two-month high. weeks in the previous session, while weak data on US inflation have supported the forecasts maintain rates.
Spot gold was down 0.4% to $ 1,303.83 an ounce at 4:16 am GMT, after hitting its highest level since March 1st at $ 1,311.07 on Wednesday.
US gold futures also fell 0.4% to $ 1,304.10 an ounce.
"The dollar plays a vital role in lowering the price of gold during trading hours in Asia. The dollar has fallen in the last four sessions and we are seeing a slight rebound today, "said Margaret Yang, market badyst at CMC Markets in Singapore.
According to Yang, the demand for this metal as a security haven against Brexit-related uncertainty has diminished after UK lawmakers refused to leave the European Union without agreement.
Legislators are now expected to vote, later in the day, to delay Britain's departure from the EU, scheduled for March 29.
"Markets evaluate the landscape in Europe and the UK after the vote. If we postpone the deadline, there will be no huge impact (on the price of gold), but the reaction will be great if an agreement is reached in the British Parliament ", said the badyst of ANZ Daniel Hynes.
The dollar was up against major currencies, after posting the biggest drop in two weeks during the previous session, based on smooth economic data in the United States.
US producer prices barely rose last month, resulting in the smallest annual increase for more than a year and a half, reinforcing the view that the Federal Reserve would be patient for future rate increases.
The price of gold has gained about 2% since the beginning of the year due to expectations of a patient approach from the Fed to raise its interest rates and the price of gold. growing concern over the global economic slowdown.
Data released earlier in the day showed that China's industrial output grew by 5.3 percent in the first two months of this year, its slowest pace of expansion in 17 years.
Market participants will now focus on the Bank of Japan (BOJ) monetary policy meeting on Thursday and Friday.
"At the moment, the global central banks are leaning on the Dovish side and if the BOJ is heavily dovish, it could cause the yen to fall against the dollar and the price of gold could fall," Yang said.
Among other precious metals, palladium fell 0.8% to $ 1,543.46 an ounce, while platinum fell 0.9% to $ 829.24 an ounce.
Money slid for the first time in five sessions and was down 0.5% to 15.37 dollars an ounce. (Report by K. Sathya Narayanan in Bengaluru, edited by Subhranshu Sahu)
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