PRECIOUS-Gold edges up; market awaits Fed decision

                                
 SINGAPORE, Oct 28 (Reuters) - Gold prices firmed a touch on
Thursday, reversing losses in the previous session, as
investors closely watch the Federal Reserve's decision on
monetary easing next week, with a slightly weaker dollar
lending support.
                                
 FUNDAMENTALS
                                
 * Spot gold <XAU=> gained 0.2 percent to $1,326.67 an ounce
by 0027 GMT, regaining some of the lost ground on Wednesday as
investors reworked their assessments on the scale of the
Federal Reserve's stimulus plan.
                                
 * U.S. December gold futures <GCZ0> rose 0.3 percent to
$1,327 an ounce.
                                
 * Most leading economists expect the Federal Reserve to buy
between $80 billion and $100 billion worth of assets per month
under a new program to bolster the struggling economy, a
Reuters poll found on Wednesday. [ID:nNLLRLE6LL]
                                
 * The latest data from the United States confirmed
expectations on the Fed's further monetary easing. Durable
goods orders dropped unexpectedly last month, along with
business spending, while new home sales continued to bounce
along the bottom. [ID:nN27216698]
                                
 * JPMorgan Chase & Co <JPM.N> and HSBC Holdings Plc
<HSBA.L> were hit with two lawsuits on Wednesday by investors
who accused them of conspiring to drive down silver prices, and
reaping an estimated hundreds of millions of dollars of illegal
profits. [ID:nN27259071]
                                
 * Spot silver <XAG=> rose nearly half a percent to $23.64
an ounce.
                                
 * Palladium <XPD=> rose nearly one percent to $618.25,
after touching a nine-year peak at $636.25 in the previous
session.
                                
 MARKET NEWS
                                
 * U.S. stocks fell on Wednesday as investors dialed back
expectations of how aggressively the Fed would act to stimulate
the economy. [.N]
                                
 * A short-covering bounce in the U.S. dollar paused in Asia
on Thursday, though the currency was underpinned by U.S.
Treasury yields which hit a five-week high overnight. [USD/]
                                
 DATA/EVENTS
                                
 0800 Germany Unemployment rate sa                   Oct
                                
 0900 EZ      Business climate                       Oct
                                
 0900 EZ      Economic sentiment                     Oct
                                
 1230 U.S.    Initial Claims                      Weekly
                                
 1500 U.S.    KC Fed survey                          Oct
                                
  ::  U.S.    Microsoft earnings                      Q3
                                
  ::  U.S.    ExxonMobil earnings                     Q3
                                
 RELATED NEWS > Fed dealers see asset-buying of $80-100 bln
a mont[nNLLRLE6LL] > Mixed U.S. data confirm slow economic
growth path [nN27216698] > Fed set to buy few hundred bln dlrs
Treasuries-WSJ[nTOE69Q02H] > French G20 to seek reform of
global monetary syste[nLDE69Q2C1] > German data point to
subdued euro zone inflation [nLDE69Q1OM] > China warns of
inflationary pressure, vows action [nTOE69Q060] > ECB's Stark
talks up recovery,Trichet urges cautio[nLDE69Q2H5] > Dollar up;
stocks, commodities down eyeing Fed   [nN27454187] > Portugal
budget talks collapse, threatening crisis[nLDE69Q19A] > Sarkozy
near victory on pension bill; unrest wanes[nLDE69Q0BM] > French
consumer spending jumps in September      [nLDE69Q11Y] > BoE's
Posen - UK recovery is not inflationary    [nLAJ002433] > Oil
dips on stronger dollar, U.S. easing doubts  [nSGE69Q0BD]
                                
PRICES
                                
 Precious metals prices at 0027 GMT
 Metal             Last    Change  Pct chg  YTD pct chg
Turnover
 Spot Gold        1326.67    1.97   +0.15     21.08
 Spot Silver        23.64    0.11   +0.47     40.46
 Spot Platinum    1679.67    7.67   +0.46     14.50
 Spot Palladium    618.25    5.62   +0.92     52.47
 TOCOM Gold       3492.00  -19.00   -0.54      7.15       
20646
 TOCOM Platinum   4446.00  -54.00   -1.20      1.48        
7070
 TOCOM Silver       62.30   -0.40   -0.64     20.50         
382
 TOCOM Palladium  1626.00  -14.00   -0.85     39.57         
568
 Euro/Dollar       1.3780
 Dollar/Yen         81.66
 TOCOM prices in yen per gram. Spot prices in $ per ounce.
 (Reporting by Rujun Shen)