UDPATE 2-China will be prudent in buying gold -official (Reuters via Yahoo! Philippines News)

* Official says gold cannot be big part of China's reserves * Says gold "not bad" but long-term yield low * Gold falls $3 per ounce after official's comments By Zhou Xin and Simon Rabinovitch BEIJING, March 9 - China will be prudent in adding gold to its official reserves, wary that any move to buy the precious metal would only serve to drive its price higher, the country's top foreign exchange ...