Gold on back foot as dollar stays near 14-year high...!

(Reuters)- Gold extended its losses after dipping in the previous session, dragged down as the US Dollar stayed near 14- years highs against a basket of currencies.

*Spot gold <XAU=> was down 0.1 percent at USDI, 31.01 an ounce by 0053 GMT. It fell 0.6 percent the day before.

*US gold futures were also 0.1 percent lower, at USDI, 133 per ounce.

*  The U.S dollar was encamped near 14-year peaks as global yield spreads moved in exorably in its favour while a falling yen lifted Japanese shares to a one-year top.

*The dollar index, which measures the greenback against a basket of currencies, stood at 103.65 on its highest.

*India's gold imports from Switzerland hit their highest in a year last month, data from the Swiss customs bureau, making it the biggest destination for bullion exports from the trading and refining hub.

* Great Panther Silver LTD has entered into agreement with units Gold-Silver-Lead-Zinc-Copper- mine and mill. complex in Peru.

*New standards for the use of Precious metals in Islamic finance are encouraging the development  of financial products based on Gold and Silver, from futures contracts to mobile app.