CORRECTED - CORRECTED-PRECIOUS-Gold edges down after rally ahead of U.S. GDP

                                
 (Corrects weekly palladium increase to biggest in three
months, not biggest in two months)
                                
 SINGAPORE, Oct 29 (Reuters) - Gold edged lower on Friday,
after rallying in the previous session on dollar weakness, as
investors brace for third-quarter economic growth data out of
the U.S. later in the day.
                                
 FUNDAMENTALS
                                
 * Spot gold <XAU=> inched down 0.2 percent to $1,340.70 an
ounce by 0031 GMT, on course for a one percent weekly rise and
a third consecutive month of gains.
                                
 * U.S. gold futures <GCZ0> were little changed at $1,341.3.
                                
 * Investors await U.S. economic growth data due later in
the day, expected to show subdued growth in the world's biggest
economy and unlikely to alter the chances of further stimulus
from the Federal Reserve.
                                
 * Data on Thursday showed that U.S. new jobless claims
unexpectedly fell to a three-month low last week, but the
underlying trend still points to labour market stagnation.
[ID:nN28118907]
                                
 * Holdings in the SPDR Gold Trust <GLD>, the world's
largest gold-backed exchange-traded fund, fell 5.165 tonnes to
1,293.101 tonnes by Oct. 28, its lowest level in more than two
weeks. [GOL/SPDR]
                                
 * Holdings in the iShares Silver Trust <SLV> slipped from a
record high of 10,224.05 tonnes, reached on Oct. 15, to
10,181.46 tonnes. [ID:nSGE69R0PI]
                                
 * Spot palladium <XPD=> rose 0.7 percent to $627.25 an
ounce, headed for a 6.7 percent weekly gain, its strongest in
three months.
                                
 MARKET NEWS
                                
 * U.S. stocks ended little changed on Thursday as cautious
investors pulled back before the expected upheaval from next
week's U.S. mid-term elections and a likely announcement of
more stimulus from the Federal Reserve. [.N]
                                
 * The U.S. dollar found a steadier footing against major
currencies early in Asia on Friday, a day after posting its
biggest fall in over a week as a fickle market turned its
attention to looming U.S. growth data. [USD/]
                                
 DATA/EVENTS
                                
 0500  Japan     Construction orders yy          Sep
                                
 0600  Germany   Retail sales yy real            Sep
                                
 0900  EZ        Inflation, flash yy             Oct
                                
 1230  U.S.      Real GDP qq SAAR             Q3-Adv
                                
 1345  U.S.      Chicago PMI                     Oct
                                
 1355  U.S.      Reuters/UMich Sent            Oct-F
                                
 1430  U.S.      ECRI index                   Weekly
                                
  ::   U.S.      Chevron                          Q3
                                
RELATED NEWS > U.S. jobless claims fall to three-month low  
                                
[nN28118907] > German unemployment dips to 18-year low      
                                
[nLDE69R0TZ] > BOJ holds fire, boosting asset buying an
option  [nTOE69R085] > Obama, Hu to tackle trade, security in
talks     [nN28214554] > ECB figures warn of "currency war"
risks to growth[nLDE69R1RJ] > Portugal govt confident on budget
approval       [nLSB000052] > EU leaders back treaty change to
ward off crises [nLDE69R1FF] > Global stocks rise on results,
dollar slips      [nN28232281] > China trade surplus to narrow
to $180bn in 2010  [nTOE69P04J] > Oil seesaws on QE2 worry,
equities, dollar       [nN28128308] > UK house prices resume
slide in Oct-Nationwide   [nSLARLE6GC] > EU to urge G20 advance
on fx minus numerical goals[nBRM002170]
                                
PRICES
                                
Precious metals prices at 0031 GMT
 Metal             Last    Change  Pct chg  YTD pct chg
Turnover
 Spot Gold        1340.70   -2.65   -0.20     22.36
 Spot Silver        23.90   -0.07   -0.29     42.01
 Spot Platinum    1685.17   -2.83   -0.17     14.87
 Spot Palladium    627.25    4.26   +0.68     54.69
 TOCOM Gold       3500.00   14.00   +0.40      7.39       
22441
 TOCOM Platinum   4429.00  -12.00   -0.27      1.10        
4666
 TOCOM Silver       62.40    0.50   +0.81     20.70         
367
 TOCOM Palladium  1637.00    7.00   +0.43     40.52         
404
 Euro/Dollar       1.3914
 Dollar/Yen         80.97
 TOCOM prices in yen per gram. Spot prices in $ per ounce.
 (Reporting by Rujun Shen)