SINGAPORE (Reuters) - Gold held above $1,200 an ounce on Thursday as recent comments from Federal Reserve chair Janet Yellen prompted some investors to push back the likely timing of a hike in U.S. interest rates.
FUNDAMENTALS
* Spot gold > was up 0.1 percent at $1,205.60 an ounce by 0027 GMT.
* Gold rose as much as 1 percent on Wednesday after Yellen indicated flexibility in raising U.S. interest rates, telling the Senate Banking Committee on Tuesday that while the Fed is preparing to consider rate hikes on a "meeting-by-meeting basis", an increase is not likely for at least the next couple of meetings.
* Yellen did not offer any additional insight on the timing of a rate increase before the House of Representatives Financial Services Committee on Wednesday.
* Many in the market had expected the Fed to start raising rates by June but after Yellen's comments, some have shifted their expectations toward the end of the year.
* U.S. gold for April delivery
* New U.S. single-family home sales fell only slightly in January despite big declines in the snow-battered Northeast while supply rose to its highest level since 2010, hopeful signs for a sluggish housing market.
* For the top stories on metals and other news, click [TOP/MTL] or [GOL/]
MARKET NEWS
* The dollar nursed modest losses on Thursday after slipping for a second straight session following Yellen's recent remarks that suggested the U.S. central bank is in no rush to raise interest rates. [USD/]
* Wall Street lagged a rise in global markets on Wednesday, with the S&P 500 and the Nasdaq closing slightly lower even as energy shares gained along with a surge in oil prices. [MKTS/GLOB]
(Reporting by Manolo Serapio Jr.; Editing by Richard Pullin)
