TREASURIES-U.S. Treasuries rise on economic recovery worries

HONG KONG Nov 23 (Reuters) - U.S. Treasuries edged higher on Monday as investors looked to low-risk assets amid worries about weak economic growth, but trade was subdued with Japan closed for a holiday.

* Gold XAU= rose more than 1 percent to a record high on Monday amid safe-haven buying, a factor also driving down Treasury yields.

* The biddish tone in oil, copper and gold lifted resources stocks which helped MSCI's index of Asia-Pacific stocks outside of Japan .MSCIAPJ higher by 0.7 percent, taking its gains so far this year to almost 67 percent. [ID:nSP460694].

* The U.S. Treasury will sell $118 billion in two-, five- and seven-year notes in three separate auctions this week before markets close on Thursday for the Thanksgiving holiday. The $118 billion total is less than the recod $123 billion of weekly issuance in late October.

* Amongst data this week, the government's revised estimate of third quarter growth on Tuesday is seen as one of the highlights. Analysts expect third quarter gross domestic product to be revised downwards to growth of 2.9 percent from the previous estimate of 3.5 percent, according to a Reuters' poll. ECONUS.

* Personal income and consumption data for October, to be released on Wednesday, will also be closely studied for any clues as to the pace of economic recovery.

* Two-year notes US2YT=RR were up nearly 1/32, yielding 0.72 percent, down about one basis point from late New York trade on Friday. They briefly fell to 11-month lows of 0.68 percent on Friday. Five-year bonds US5YT=RR rose 1/32 in price to yield 2.17 percent.

* T-note futures were down nearly 1/16 to 119-16.5/32 TYv1. Benchmark 10-year notes were up by more than 1/16 to yield 3.36 percent US10YT=RR. (Reporting by Saikat Chatterjee; Editing by Kim Coghill) ((saikat.chatterjee@thomsonreuters.com; +852-2843-6548; Reuters Messaging: saikat.chatterjee.reuters.com@reuters.net))

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