By Arpan Mukherjee Gold fell in Asian trading Monday, in line with declines in base metals and regional equities, but analysts said the intermediate-term outlook remained bullish. Spot gold was at $1,761.98 a troy ounce at 0441 GMT, down $11.02 from its previous close. Gold reversed sharply after hitting a multimonth high in intraday trade Friday, and now sits well below Friday's low. Spot gold Friday hit $1,787.40/oz, the highest level since Feb. 29. Analysts last week had predicted a short-term pullback. "This price action is a worry, as it can precipitate larger falls," Jonathan Barratt, chief economist of Barratt's Bulletin, said in a report. A stronger U.S. dollar also weighed on gold. Dollar-denominated commodities are more expensive to holders of other currencies when the dollar strengthens. The WSJ Dollar Index, which measures the dollar against a basket of currencies, was at 69.473 compared with 69.38 late Friday in New York. Still, the medium-to-long-term price outlook remains bullish due to major central banks' "open-ended" commitment to monetary stimulus, Austin Kiddle, director of bullion dealer Sharps Pixley, said in a report. Gold is likely to find support at $1,755-$1,760/oz in the near term, Triland Metals analysts said in a report. The market's focus this week will likely turn to the euro-zone debt crisis, particularly Spain's budget, amid continued concerns about Chinese economic growth, OCBC analyst Barnabas Gan said. In silver trading, ANZ analysts said silver offers less upside than gold. Spot silver was at $34.01/oz, down 51 cents from its previous close. The metal fell 2.7% to a low of $33.59/oz during the session. In other precious metals, spot platinum was at $1,615.50/oz, down $16.50. Palladium was $660.40/oz, down $8.60. Write to Arpan Mukherjee at arpan.mukherjee@wsj.com

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