By Rujun Shen
SINGAPORE, Aug 31 (Reuters) - Spot gold fell half a percent on Wednesday, pulling back from a rally of 2.6 percent in the previous session as disappointing U.S. consumer data and poor economic sentiment in the euro zone buoyed safe-haven interest in bullion.
FUNDAMENTALS
* Spot gold declined half a percent to $1,828.99 an
ounce by 0020 GMT. U.S. gold
* U.S. consumer confidence plunged in August to its lowest since the 2007-2009 recession, after a bruising battle over the U.S. budget slammed stock prices and pushed the nation to the brink of default.
* Expectations that the U.S. 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.
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MARKET NEWS
* U.S. stocks rose for a third straight day on Tuesday in a volatile session, after minutes from the latest Federal Reserve meeting boosted expectations the U.S. 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 U.S. Federal Reserve's Aug. 9 meeting bolstered expectations for more stimulus.
DATA/EVENTS 0600 Germany Retail sales July 0800 Germany Unemployment August 0900 Euro zone Flash inflation August 0900 Euro zone Unemployment July 1215 U.S. ADP employment report August 1345 U.S. Chicago PMI August 1400 U.S. Factory orders July
PRICES
Precious metals prices 0020 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1828.99 -8.21 -0.45 28.85 Spot Silver 41.24 -0.17 -0.41 33.64 Spot Platinum 1843.74 -6.31 -0.34 4.31 Spot Palladium 771.50 0.85 +0.11 -3.50 TOCOM Gold 4514.00 76.00 +1.71 21.05 54085 TOCOM Platinum 4594.00 58.00 +1.28 -2.17 3813 TOCOM Silver 101.30 1.60 +1.60 25.06 282 TOCOM Palladium 1909.00 46.00 +2.47 -8.97 126 COMEX GOLD DEC1 1831.70 1.90 +0.10 28.87 3011 COMEX SILVER SEP1 41.20 -0.20 -0.48 33.16 26 Euro/Dollar 1.4426 Dollar/Yen 76.65 TOCOM prices in yen per gram. Spot prices in $ per ounce. COMEX gold and silver contracts show the most active months (Editing by Clarence Fernandez)