SINGAPORE, Jan 29 - Gold edged up on Tuesday but did not drift too far from a 2-1/2-week low hit in the previous session as promising U.S. economic data fuelled optimism about an economic recovery, driving investors away from safe-haven assets such as bullion.
* Spot gold edged up 0.2 percent to $1,656.91 an ounce by 0010 GMT, after four consecutive sessions of losses. It fell to $1,651.93 on Monday, its lowest since Jan. 9.
* U.S. gold also rose 0.2 percent, to $1,656.20.
* Rating agency Fitch scaled back the chance it will strip the United States of its AAA status, saying a recent deal on the country's debt limit removed the near term risk of a cut, but warned that the danger to the U.S. rating is not over yet.
* Anglo American Platinum, South Africa and labour unions have agreed to postpone a restructuring exercise that could lead to 14,000 job cuts to allow for more talks. The news sent spot platinum down 1.9 percent on Monday, its sharpest daily decline in more than a month. The metal stood at $1,664, up 0.3 percent from the previous close.
* Investors are waiting for the Federal Reserve's policy meeting on Tuesday and Wednesday to gauge the central bank's attitude towards its ultra-loose monetary policy, as the economy appears to gain traction. Most economists expect the Fed to retain its easing stance.
* A gauge of U.S. business investment plans improved in December, a sign companies were betting the economy will pick up despite fears over tighter fiscal policy.
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* The S&P 500 eased slightly on Monday after an eight-day run of gains, while the Nasdaq edged higher as Apple shares rebounded.
* Sterling took the spotlight on Tuesday, though for all the wrong reasons, as a dour economic background and persistent rumours of a possible credit downgrade dragged the British currency to a 13-month trough on the euro and a five-month low on the dollar.
* U.S. Treasury yields rose for a third session on Monday after a gauge of planned U.S. business spending rose in December, fuelling some expectations economic growth may be picking up enough that the Federal Reserve may mull pulling back on economic stimulus.
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0700 Germany GFK consumer sentiment Feb
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U.S. FOMC begins two-day meeting
Precious metals prices 0010 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1656.91 2.57 +0.16 -1.05
Spot Silver 30.92 0.10 +0.32 2.11
Spot Platinum 1664.00 5.01 +0.30 8.40
Spot Palladium 736.00 0.28 +0.04 6.36
COMEX GOLD FEB3 1656.20 3.30 +0.20 -1.17 1436
COMEX SILVER MAR3 30.94 0.16 +0.52 2.35 560
COMEX gold and silver contracts show the most active months