April 13 (Bloomberg) -- Gold fell from a four-month high in New York as a rebounding dollar and a pledge to provide Greece with loans curbed demand for the precious metal. The dollar was little changed against the euro as Greece sold 1.56 billion euros ($2.1 billion) of securities. Gold futures climbed to $1,170.70 an ounce yesterday, the highest price since Dec. 4, as the dollar weakened after Greece was offered as much as 45 billion euros to ease debt. Gold typically moves inversely to the U.S. currency. The "gold price is dictated by a stronger dollar," said Bayram Dincer, a commodity analyst at LGT Capital Management in Pfaeffikon, Switzerland. "Not overcoming the $1,170 four-month high indicates a short-term consolidation mode. The Greece euphoria factor also signals that risk aversion is lower." Gold futures for June delivery lost $7.40, or 0.6 percent, to $1,154.80 an ounce 8:05 a.m. on the Comex in New York. Bullion for immediate delivery in London was 0.3 percent lower at $1,153.25. Gold fell to $1,149.25 in the morning "fixing" in London, used by some mining companies to sell production, from $1,158.75 at yesterday's afternoon fixing. Spot prices are trading 6 percent below a record $1,226.56 set on Dec. 3. The dollar gained as much as 0.3 percent against the euro after yesterday sliding to the lowest level since March 18. Concerns over Greece's budget deficit have dragged the euro down against the greenback this year. Euro-region finance ministers said on April 11 they would offer Greece as much as 30 billion euros in three-year loans in 2010 at about 5 percent. Another 15 billion euros would be provided by the International Monetary Fund. 'Ready for a Pullback' "Gold seems to be ready for a pullback," said Toby Hassall, a research analyst at CWA Global Markets Pty in Sydney. "The dollar looks fairly flat for the day." Holdings in the SPDR Gold Trust, the largest exchange- traded fund backed by the metal, were unchanged at an all-time high 1,141.04 metric tons yesterday, according to the company's Web site. Platinum for July delivery in New York fell 1.3 percent to $1,716.30 an ounce. Palladium for June delivery slipped 1.8 percent to $515 an ounce. Silver for May delivery declined 1.5 percent to $18.135 an ounce. Platinum and palladium prices will outperform "yesterday's jewelry," gold, as consumers in China seek more novel precious metals and demand from industry grows, Robin Bhar, a commodities analyst at Credit Agricole Corporate & Investment Bank, said in London today. Imports into China will contribute to a global platinum deficit of 386,000 ounces in 2010, following a surplus last year, while palladium's surplus will narrow, Bhar said. Platinum and palladium are used mainly for jewelry and in catalytic converters for vehicles. Platinum will average $1,517 an ounce this year, 8 percent more than previously estimated, Citigroup Inc. said in a report. The bank raised its 2010 palladium forecast 21 percent to $425 an ounce. --With assistance from Claudia Carpenter in London and Jason Scott in Perth. Editors: John Deane, Dan Weeks.

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