PRECIOUS-Gold slips as upbeat U.S. data trims safe-haven draw
SINGAPORE, Feb 4 (Reuters) - Gold ticked lower for a second session in three on Monday as a string of data pointing to a U.S. economy on the mend gave investors less reason to buy assets deemed as safe-haven. FUNDAMENTALS * Spot gold slipped $1.43 to $1,665.11 an ounce by 0056 GMT. U.S. gold dropped 0.3 percent to $1,666.20. * Five weeks into 2013, spot gold is down about half a percent so far this year after a 12-year winning streak as recent data from Europe to China and the United States suggest a brighter outlook for the global economy. * While US non-farm payrolls rose by a slightly lower than forecast 157,000 in January, job gains in the two previous months were revised up by 127,000. The U.S. manufacturing sector hit nine-month highs in January and U.S. consumer sentiment rose more than expected. * Apart from dulling its safe-haven appeal, signs of a recovering U.S. economy are also weakening the case for the Federal Reserve to prolong its monetary stimulus, cutting gold's draw as an inflation hedge. * For the top stories on metals and other news, click , or MARKET NEWS * Asian shares edged higher on Monday, buoyed by U.S. data which maintained expectations for a mild recovery and continued loose Federal Reserve monetary policy to support it. * The yen remained under selling pressure with the Bank of Japan seen easing policy aggressively. DATA/EVENTS (GMT) 0930 Euro zone Sentix index 1000 Euro zone Producer prices 1445 U.S. ISM-New York index 1500 U.S. Durable goods 1500 U.S. Factory orders 1500 U.S. Employment trends Precious metals prices 0056 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1665.11 -1.43 -0.09 -0.56 Spot Silver 31.72 -0.08 -0.25 4.76 Spot Platinum 1688.75 8.26 +0.49 10.02 Spot Palladium 755.00 0.82 +0.11 9.10 COMEX GOLD APR3 1666.20 -4.40 -0.26 -0.57 3458 COMEX SILVER MAR3 31.74 -0.22 -0.70 4.98 669 Euro/Dollar 1.3643 Dollar/Yen 92.65 COMEX gold and silver contracts show the most active months (Reporting by Manolo Serapio Jr.; Editing by Ed Davies)
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