Reuters News

SINGAPORE, March 3 (Reuters) - Gold edged lower on Thursday
after hitting record highs in two consecutive sessions, as
spreading unrest in the Middle East underpinned safe-haven
demand and investors watch for signs of tightening at a European
Central Bank meeting later in the day. 

FUNDAMENTALS 

* Spot gold edge down 0.2 percent at $1,431.70 an
ounce by 0036 GMT, after striking a record high of $1,440.10 in
the previous session. 

* U.S. gold futures inched down 0.4 percent at
$1,432.40. 

* Escalating tensions in Middle East and North Africa
nations remained in the spotlight. For the latest stories, click
  

* The European Central Bank is expected to step up
tightening rhetoric and may phase out some of its crisis support
measures at a meeting later in the day.  

* For the top stories in metals and other news, click
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MARKET NEWS 

* U.S. stocks eked out gains on Wednesday despite another
rise in oil prices as investors bet the latest data signaled the
economy could absorb expected higher energy costs.  

* The dollar index held steady on Thursday, as the euro
eased slightly from a near four-month high against the dollar
and looked set to extend gains on growing expectations of
interest rate hikes earlier than the United States.  

* U.S. crude oil futures rose towards its highest in two and
a half years on fears of prolonged supply disruption.  

DATA/EVENTS (GMT) 

0700 Germany Retail sales yy real  Jan 2011   

0858 EZ      Markit Services PMI   Feb 2011   

1245 EZ      ECB rate Decision     Mar 2011   

1330 U.S.    Unemployment claims   Weekly         

1500 U.S.    ISM Non-manufacturing index Feb      

PRICES    
  
 Precious metals prices 0036 GMT
  Metal             Last    Change  Pct chg  YTD pct chg  Volume
  Spot Gold        1431.70   -2.79   -0.19      0.86
  Spot Silver        34.46   -0.21   -0.61     11.67
  Spot Platinum    1843.75   -1.99   -0.11      4.31
  Spot Palladium    815.72   -1.00   -0.12      2.03
  TOCOM Gold       3778.00    2.00   +0.05      1.31      22275
  TOCOM Platinum   4916.00   20.00   +0.41      4.68       8076
  TOCOM Silver       90.30   -0.30   -0.33     11.48        547
  TOCOM Palladium  2165.00   15.00   +0.70      3.24        229
  COMEX GOLD APR1  1432.40   -5.30   -0.37      0.77       1957
  COMEX SILVER MAY1  34.49   -0.35   -1.00     11.46        710
  Euro/Dollar       1.3860
  Dollar/Yen         81.85
  TOCOM prices in yen per gram. Spot prices in $ per ounce.
  COMEX gold and silver contracts show the most active months
 
 (Reporting By Rujun Shen) 
  
  

Reuters
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