Singapore: Spot gold fell half a percent on Wednesday, pulling back from a rally of 2.6 percent in the previous session as disappointing US consumer data and poor economic sentiment in the euro zone buoyed safe-haven interest in bullion.
* Spot gold declined half a percent to USD 1,828.99 an ounce by 0020 GMT. US gold edged up 0.1 percent to USD 1,831.70 an ounce.
* US consumer confidence plunged in August to its lowest since the 2007-2009 recession, after a bruising battle over the US budget slammed stock prices and pushed the nation to the brink of default.
* Expectations that the US Federal Reserve may launch more stimulus for the faltering economy also support the sentiment in the gold market, as investors await a Fed meeting in September.
* The euro zone's economic sentiment fell more than expected in August, just as Italy warned weak growth may endanger government plans to cut debt as a lukewarm bond auction threatened to drag the bloc's third-biggest economy back to the centre of the debt crisis.
* Holdings in the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, edged up on the day to 1,232.314 tonnes by Aug. 30.
* US stocks rose for a third straight day on Tuesday in a volatile session, after minutes from the latest Federal Reserve meeting boosted expectations the US central bank will act again to stimulate the economy.
* Renewed concerns about the euro zone sovereign debt crisis weighed on the euro in Asia on Wednesday, while the dollar also struggled after minutes of the US Federal Reserve's Aug. 9 meeting bolstered expectations for more stimulus.
First Published: Wednesday, August 31, 2011, 09:55