LONDON, July 12 (Reuters) - Spot gold held steady around $1,550 on Tuesday, as investors fled from risky assets on fears of a spreading euro zone debt crisis, but a stronger dollar and weak equities weighed on sentiment. For latest market report, click on .
PRICES
* Spot gold was bid at $1,548.51 an ounce at 0659 GMT compared with $1,553.60 late in New York on Monday.
* Silver was at $35.46 from $35.68.
* Platinum was at $1,716.74 from $1,721.05
* Palladium was at $760.22 from $764.00
DATA/EVENTS
* UK inflation for June, UK trade balance for May-0830 GMT
* ICSC/Goldman Sachs U.S. chain store sales - 1145 GMT
* U.S. international trade for May - 1230 GMT
* Redbook weekly U.S. retail sales - 1255 GMT
* U.S. IBD/TIPP consumer confidence index - 1400 GMT
* FOMC releases minutes from June 21-22 meeting-1800 GMT
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MARKET NEWS
* The euro fell further in Asia on Tuesday, to a record low versus the Swiss franc and a four-month trough against the dollar, on growing concerns that the euro zone's sovereign debt crisis was spreading.
* Oil fell for a third day on Tuesday as pledges to contain the spread of the euro zone's debt crisis failed to dispel unease among investors about slowing energy demand growth.
*Asian stocks slipped for a sixth straight day on Thursday as investors cut exposure to risky assets on signs the global economy is losing steam, with higher oil prices casting a shadow after OPEC failed to reach a deal to boost output.
* Financial bookmakers expect the leading European benchmark indexes to fall sharply on Tuesday, adding to the previous session's steep sell-off, as investors shun riskier assets on mounting concerns that the euro zone debt crisis is spreading.
* U.S. stocks suffered their worst day in nearly a month on Monday as concern about the stalemate in U.S. budget talks and growing debt problems in the euro zone prompted investors to hedge against further losses.
FUNDAMENTALS
* China, the world's largest gold producer, said its gold output in the first five months of the year grew 3.67 percent from a year earlier to 132.02 tonnes. The country produced 340.88 tonnes of gold in 2010, up 8.6 percent on the year.
* Holdings of the largest silver-backed ETF, New York's iShares Silver Trust dropped 0.33 percent from Friday to Monday, while holdings of the largest gold-backed exchange-traded-fund (ETF), New York's SPDR Gold Trust remained unchanged for the same period.
TECHNICALS
* Spot gold is due for a correction as a five-wave cycle is ending when the metal approaches a resistance at $1,557.75, the June 22 high.
The linear rise from the July 1 low of $1,478.01 seems exhausted, as indicated by a sudden sharp fall to $1,541.41 on the hourly chart, after gold touched a high at $1,556.59.
The metal is expected to revisit the $1,541.41 level, and a further slide to $1,540 will confirm a small double-top, with a bearish target to be established at $1,526.
* Gold 14-day RSI was at 60.06, slver was at 48.7, and platinum at 48.65. For related news and prices, click on the codes in brackets: Spot gold/silver Platinum/palladium Gold lease rates Comex gold futures <0#GC:> Europe/Asia prices
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