PRECIOUS-Gold falls 1% on firmer dollar, thin Asia trade

Feb 17 (Reuters) - Gold fell 1% on Tuesday as thin trading persisted across major Asian markets due to the Lunar New Year holidays, while a firmer dollar also pressured prices.

FUNDAMENTALS

Spot gold XAU= dropped 0.9% to $4,947.98 per ounce by 0110 GMT, after losing 1% earlier in the session.

U.S. gold futures GCcv1 for April delivery lost 1.6% to $4,966.80 per ounce.

The U.S. dollar index .DXY rose 0.2% against a basket of currencies, making greenback-priced bullion more expensive for holders of other currencies. USD/

Mainland Chinese, Hong Kong, Singapore, Taiwan and South Korea markets are closed for the Lunar New Year holidays. U.S markets were shut on Monday on account of Presidents' Day.

Elsewhere, U.S. President Donald Trump said on Monday that he would be involved "indirectly" in talks between Iran and the U.S. over Tehran's nuclear programme set for Tuesday in Geneva, adding he believed Tehran wanted to make a deal.

Meanwhile, Iran's foreign minister met with the U.N. nuclear watchdog chief on Monday, ahead of talks between Washington and Tehran aimed at resolving a nuclear dispute, with few clear signs of compromise from either side and the threat of U.S. military action looming.

Spot silver XAG= fell 2.7% to $74.51 per ounce, after dropping over 3% earlier.

Spot platinum XPT= shed 0.8% to $2,025.05 per ounce, while palladium XPD= lost 1.5% to $1,698.10.