PRECIOUS-Gold eases after NY gains, ETF hits fresh record

                                
 SINGAPORE, Feb 5 (Reuters) - Gold edged down on Thursday
after rising in New York on safe haven buying amid a global
financial crisis, with record holdings on the world's largest
gold-backed ETF supporting sentiment.
                                
 FUNDAMENTALS
                                
 * Gold <XAU=> was trading at $903.55 an ounce, down $1.30
from New York's notional close, when it regained $900.
                                
 * The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust <GLD>, said it held arecord of 859.49 tonnes of
gold as of Feb. 4, up 6.12 tonnes fromFeb. 2. [GOL/SPDR]
                                
 * Investment bank Goldman Sachs <GS.N> has raised its
forecast for the price of gold to $1,000 anounce in the next
three months from its previous forecast of $700due to rising
investor demand for safe haven assets. [ID:nSP71612]
                                
 * Passage of President Barack Obama's nearly $900 billion
proposed economic stimulus package would likely be inflationary
and bullish for gold, and a failure would be bearish, said
analysts.
                                
 MARKET NEWS
                                
 * Japan's Nikkei stock average slipped 1.2 percent on
Thursday as Kyocera Corp <6971.T> and other tech shares fell on
worries about the U.S. economy, but hopes for Chinese economic
steps boosted shippers and provided support. [.T]
                                
 * The euro was steady against the dollar on Thursday, after
falling sharply the previous day due to a downgrade of Russia's
sovereign rating, as investors awaited a rate decision by the
European Central Bank. [USD/]
                                
 * U.S. stocks fell on Wednesday as a glum profit forecast
from Kraft Foods <KFT.N> signaled consumers are skimping even
on the basics and investors worried that government efforts to
rescue banks could wipe out their shareholders. [.T]
                                
 * U.S. crude futures edged lower to near $40 a barrel on
Thursday after the U.S. stock market fell and a government
report showed a larger-than-expected build in U.S. crude
inventories. [O/R]
                                
 DATA EVENTS            
                                
* The following data is expected on Thursday: <ECON>
                                
 - The ECB is expected to leave interest rates unchanged
                                
 - Bank of England announces interest rate decision
                                
 - U.S. preliminary Q4 productivity
                                
 - Weekly U.S. Jobless claims
 - U.S. factory orders for December
                                
 RELATED NEWS > Obama sets exec pay limits for bailout
companies   [nN0462314] > US Senate approves softened 'Buy
American' plan   [nN04320739] > Bank of America tumbles on
nationalization worries[nN04309899] > Gold climbs above
$900/oz, rate decisions awaited       [GOL/] > US cuts jobs at
slower pace; Russia downgraded     [nSP241879] > US private
sector cuts 500,000 jobs in Jan        [nN04269002] > ECB seen
leaving rates on hold, future steps eyed  [nL4667657]
                                
 PRICES
                                
   Metal         Last      Change  Pct chg  Day ago pct  MA
30       Spot gold     $903.55   -$1.30  -0.14%    +0.73%  
$860.10      Spot silver    $12.44   -$0.07  -0.56%    +3.84% 
  $11.29      Spot plat     $962.00   -$2.00  -0.21%    +0.47%
  $959.65      COMEX gold    $904.60    $4.60  +0.51%   
+1.41%
                                
$867.70      TOCOM gold      2,604       22  +0.85%   +0.35%
                                
  2,507      TOCOM plat      2,766       11  +0.40% 
 -0.82%      2,715      Currencies
                                
                  Euro/dlr       $1.284  -$0.030  -2.28%  
-2.58%
 Dlr/yen         89.35    -1.03  -1.14%    +0.48%
 (Reporting by Lewa Pardomuan; Editing by Michael Urquhart)