SINGAPORE, June 26 - Gold fell for a seventh session out of eight on Wednesday as strong U.S. economic data boosted stocks and supported the Federal Reserve's plan to scale back its bond purchases in the next few months.
* Spot gold was down nearly 0.1 percent to $1,275.71 an ounce by 0010 GMT, sitting near three-year lows seen on Friday. U.S. gold rose slightly to $1,275.30.
* Gold's losses since the beginning of last week through Tuesday amount to 8 percent, or about $113 per ounce.
* Bullion prices have been sliding since Fed Chairman Ben Bernanke laid out a strategy to wind down the bank's $85 billion monthly bond purchases on the back of a recovering economy.
* U.S. consumer confidence jumped in June to its highest level in more than five years, while sales of new U.S. single-family homes rose to their highest level in nearly five years in May.
* Further gains in global stock markets this year will be a signpost of more losses for gold, according to analysts, citing a re-established negative correlation between the two assets.
* India's central bank told rural regional banks on Tuesday they could no longer provide loans against gold jewellery and coins - the latest move to discourage gold buying as the government seeks to reduce a record current account deficit.
* SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 16.23 tonnes to 969.50 tonnes on Tuesday, to their lowest since February 2009.
* Holdings of the world's largest silver-backed exchange-traded funds have fallen their most in a year to levels last seen in December, sparking fears that mom-and-pop investors have started to unwind investments after last week's rout.
* The dollar index rose further, while Asian shares opened higher. U.S. stocks rose by the most in nearly two weeks on Tuesday.
0600 Germany GfK consumer sentiment
1230 U.S. Final Q1 GDP
Precious metals prices 0010 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1275.71 -1.03 -0.08 -23.82
Spot Silver 19.57 -0.01 -0.05 -35.37
Spot Platinum 1344.24 -5.76 -0.43 -12.43
Spot Palladium 661.50 -1.24 -0.19 -4.41
COMEX GOLD AUG3 1275.30 0.20 +0.02 -23.90 1465
COMEX SILVER JUL3 19.55 0.02 +0.12 -35.49 270
COMEX gold and silver contracts show the most active months