PRECIOUS-Gold marks record highs above $1,220/oz

                                
 TOKYO, Dec 3 (Reuters) - Gold inched up to hit record highs
above $1,220 an ounce on Thursday fuelled by safe-haven buying.
                                
 FUNDAMENTALS
                                
 * Spot gold <XAU=> rose as high as $1,222.20 per ounce by
0019 GMT, up 0.5 percent from the New York notional close of
$1,215.90.
                                
 * U.S. gold futures for February delivery <GCG0> touched an
all-time high of $1,224.70.
                                
 * The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust <GLD>, said its holdings stood at 1,131.214 tonnes as
of Dec. 2, inching up towards the record high of 1,134.03 tonnes
hit on June 1. [GOL/SPDR]
                                
 * The world's largest silver-backed exchange-traded fund, the
iShares Silver Trust <SLV>, said its silver holdings fell 3.49
tonnes, or 0.04 percent, from the previous business day to
9,401.30 tonnes as of Dec. 2.  Its holdings hit a record 9,404.79
tonnes on Nov. 30.  [ID:nT82720]
                                
 MARKET NEWS
                                
 * The yen was on the defensive on Thursday on growing
investor speculation Japan may take more quantitative easing
steps to get the economy out of deflation and as prospects of
currency intervention loomed larged. [USD/]
                                
 * The Nasdaq rose on Wednesday as strong online holiday sales
boosted shares of retailers, including Amazon. com, and relieved
some concerns about consumer spending. [.N]
                                
 DATA EVENTS
                                
 * The following events are expected on Thursday: <ECON>
                                
 - Euro zone services PMI for November            (0858 GMT)
                                
 - UK services PMI for November                   (0928 GMT)
                                
 - Euro zone revised GDP for Q3                   (1000 GMT)
                                
 - ECB announces policy decision                  (1245 GMT)
                                
 - U.S. revised Q3 productivity, unit labor costs (1330 GMT)
                                
 - Weekly U.S. jobless claims                     (1330 GMT)
                                
 - U.S. ISM non-manufacturing for November        (1500 GMT)
                                
 - ICSC U.S. chain store sales for November            (N/A)
                                
 RELATED NEWS
 > Gold surges to record high, nears $1,220/0z            [GOL/]
 > COMMODITIES-Gold sets record despite strong dollar [COM/WRAP]
 > Newmont CEO says gold may falter briefly      [ID:nN02447526]
 > Turkey imports 393 kg of gold in November     [ID:nGEE5B11E5]
 > U.S. job losses decline, Fed sees improvement [ID:nN02324306]
                                
 Precious metals prices at 0014 GMT
 Metal         Last      Change  Pct chg  Day ago pct  MA 30  RSI
 Spot gold    $1220.30    $4.40  +0.36%   +36.04%    $860.10  85
 Spot silver    $19.37    $0.17  +0.89%   +61.69%     $11.29  75
 Spot plat    $1501.00    $0.50  +0.03%    +1.45%   $1410.45  74
 TOCOM gold      3,454       44  +1.29%    +3.85%      3,226  77
 TOCOM plat      4,248       73  +1.75%    +3.66%      4,011  71
 Currencies
 Euro/dlr       $1.508   $0.003  +0.23%    -0.05%
 Dlr/yen         87.70     0.25  +0.29%    +1.22%
 TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams.  Spot prices in $ per ounce.
 (Reporting by Miho Yoshikawa; Editing by Edwina Gibbs)
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