Aug 13 (Reuters) - Gold prices were flat in early Asian trade on Friday, as a firm dollar offset ease in early-tapering bets, although the precious metal was headed for a second consecutive weekly decline.
FUNDAMENTALS
* Spot gold was unchanged at $1,752.78 per ounce by 0101 GMT. It is down 0.5% so far for the week.
* U.S. gold futures were up 0.2% to $1,754.40.
* The dollar held firm near a more than four-month high, hit earlier this week, underpinned by data showing U.S. producer prices posted their largest annual increase in more than a decade.
* Meanwhile, Americans filing claims for unemployment benefits fell again last week as the economic recovery continues to be bumpy, a separate Labor Department report showed on Thursday.
* Wednesday's U.S. consumer price report hinted that inflation may have peaked, reassuring investors that the Fed will not feel obligated to hasten plans to rein in emergency-level support of the economy, but they remained worried that rising prices could continue to weigh on everything from bond prices to corporate margins.
* Gold is seen as a hedge against inflation, but a Fed rate hike will increase the opportunity cost of holding non-yielding bullion while boosting the dollar.
* Silver rose 0.2% to $23.19 per ounce. Platinum fell 0.2% to $1,015.90 and palladium eased 0.3% to $2,616.80.
DATA/EVENTS $(GMT)$ 0645 France CPI (EU Norm) Final MM, YY July 1400 US U Mich Sentiment Prelim Aug
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