Reuters News London

LONDON, March 3 (Reuters) - Gold fell on Thursday on a
proposed peace plan for Libya brokered by OPEC-member Venezuela
to end violent unrest in the country. 

For latest market report

PRICES
  * Spot gold XAU= was bid at $1,426.80 at 0748 GMT from
$1,434.49 late in New York on Wednesday.

* Silver XAG= was at $34.45 from $34.67.

* Platinum XPT= at $1,836.49 from $1,845.74.

* Palladium XPD= at $817.50 from $816.72.

DATA/EVENTS

* ECB Governing Council interest rate announcement - 1245
GMT

* Bank of England's Bean gives speech at ABI economics and
research conference - 1300 GMT

* Bank Finance 2011 conference with ECB Governing Council
Member Yves Mersch

[ECI/US] [ECI/EURO] [ECI/GB] [M/DIARY] [MTL/DIARY]

MARKET NEWS

Upbeat U.S. economic news helps lift Asian stock markets,
while crude oil prices fell in choppy trade on reports of a
possible peace deal for Libya. [MKTS/GLOB]

* The euro hovered near a four-month high against the dollar
on expectations the ECB will move towards an eventual rate hike,
though the currency faces a near-term risk of profit-taking.
[USD/] 

* Oil fell over $3 after the head of the Arab League said a
peace plan for Libya, proposed by Venezuela President Hugo
Chavez, was under consideration. [O/R]

* U.S. stocks eked out gains despite another rise in oil
prices as investors bet the latest data signalled the economy
could absorb expected higher energy costs. [.N]

* European stock index futures pointed to a rebound on
optimism over the U.S. economy following forecast-beating data,
and as oil prices dropped on Venezuela's proposed peace plan for
Libya. [.EU]

FUNDAMENTALS 

* Holdings in the world's largest silver-backed
exchange-traded fund, iShares Silver Trust (SLV), climbed to
10,764.52 tonnes by March 2, the highest since Jan. 10, from
10,693.68 tonnes by March 1. [ID:nL3E7E3000]

* The value of mergers and acquisitions in the global mining
industry surged last year as the race for resources accelerated,
according to a report that ranked Canadian companies at the top
of the M&A list.

TECHNICALS

* Gold support at $1,400 an ounce, resistance at $1,465 an
ounce and 14-day RSI at 66.49.

* Platinum support at $1,821 an ounce, resistance at $1,867
and 14-day RSI at 55.72.

* Silver support at $33.80 an ounce, resistance at $36.70
and 14-day RSI at 68.22.