SINGAPORE (Commodity Online) : Gold prices eased further in Asian trade Friday mainly on a strung dollar as investors turned to currencies for direction.

Gold for immediate delivery was seen trading at Spot $1,123.65 at 11.30 a.m Singapore time; down from $1.80 from New York’s notional close.



US gold futures for April delivery was at $ $1,125.01 at the same time, after settling higher on Thursday.

Analysts said concerns about Greece's debt problems could still spur safe-haven buying.

Bullion investors closely watched the dollar index .DXY, which measures the greenback against a basket of six currencies and hovered above the 50 and 100-day moving averages, suggesting sentiments for the U.S. currency remained firm.

The euro recovered on Friday but remained under pressure on renewed concern about Greece after Athens said it may not be able to achieve its promised deficit cuts if its borrowing costs remain so high.

Silver, platinum and palladium tracked gold lower.

Meanwhile, the world's largest gold-backed exchange-traded fund, SPDR Gold Trust said its holdings stood at 1,115.511 tonnes as of March 18, unchanged from the previous business day. There has been no change in the holdings since March 10.

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