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PRECIOUS-Gold scales over 1-week high as U.S. dollar, yields ease

    * Dollar index down 0.7%
    * U.S. job openings increased more than expected in February
    * Investors await Fed minutes due on Wednesday 

 (New throughout, adds comments, updates prices)
    By Shreyansi Singh
    April 6 (Reuters) - Gold prices rose to their highest in
more than a week on Tuesday, supported by a weaker dollar and as
U.S. Treasury yields retreated.
    Spot gold        was up 0.8% at $1,742.78 an ounce by 11:03
a.m. EDT (1503 GMT) after hitting its highest level since March
25 at $1,744.30. U.S. gold futures        gained 1% to
$1,745.20.
    As the yields fall, the reduced opportunity cost of being
invested in bonds, along with a weaker dollar are likely primary
reasons why gold is doing better, said Bart Melek, head of
commodity strategies at TD Securities.
    "Investors believe that we are not going to see another huge
run-up in the yields and that has prompted gold to just
technically rebound," Melek said.
    The dollar        fell 0.7% against a basket of rivals, 
making gold cheaper for holders of other currencies, while
benchmark U.S. Treasury yields drifted lower.            
    Wall Street's main indexes treaded water on Tuesday as
investors stayed on the sidelines a day after the S&P 500 and
the Dow closed at record highs on renewed recovery hopes, while
data showed U.S. job openings increased more than expected in
February.                  
    "For the gold story to return to a firmer footing ... we
need to see either some geopolitical concerns or inflation pick
up more aggressively than the market has been pricing," said
Saxo Bank analyst Ole Hansen.
    Investors are also awaiting minutes on Wednesday from the
Federal Reserve's last meeting for more cues on its monetary
policy.             
    Cleveland Fed Bank President Loretta Mester on Monday said
the U.S. economic outlook is brightening, though the U.S.
central bank should stick to its easy policy to support growth
further.             
    In other precious metals, silver        rose 1.3% to $25.21
an ounce, palladium        added 0.8% to $2,686.21 and platinum
       gained 2.5% to $1,238.60.

 (Reporting by Shreyansi Singh and Sumita Layek in Bengaluru;
Editing by Steve Orlofsky)
  
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