PRECIOUS-Gold eyes record peak; economy, Iran support

                                
 SINGAPORE, June 28 (Reuters) - Gold ticked higher on
Monday, trading less than $10 shy of last week's record high,
underpinned by worries about the global economy after the G20
summit and U.S. comments that Iran has fissile material for two
atomic bombs.
                                
 FUNDAMENTALS
                                
 * Spot gold <XAU=> rose $3.35 to $1,256.75 an ounce by 0115
GMT after a steady performance last week during which bullion
struck a record high above $1,264.
                                
 * U.S. gold futures for August delivery <GCQ0> rose $1.78
to $1,258.00 an ounce.
                                
 * Gold saw support from fears about the durability and pace
of the global economic recovery, unallayed after the weekend's
G20 summit in Canada, a modestly weaker dollar and comments
from the head of the CIA that Iran may have enough fissile
material to make two atomic weapons, and could build the first
in two years.
                                
 * The world's largest gold-backed exchange-traded fund,
SPDR Gold Trust <GLD.P> said its holdings remained unchanged at
at an all-time high at 1,316.177 tonnes. [GOL/SPDR]
                                
 * Platinum <XPT=> rose 1.3 percent to $1,587.25.
                                
 *  U.S. lawmakers hammered out a historic overhaul of
financial regulations, handing President Barack Obama a major
domestic policy victory. [ID:nN25206239] [ID:nN25341158]
                                
 * Dozens of House Democrats had threatened to vote against
a ban on swaps trading on grounds the trade would move
overseas.
                                
 * Instead a compromise solution allows banks to stay
involved in foreign-exchange and interest-rate swaps dealing,
which form the bulk of the $615 trillion over-the-counter
derivatives market. They also could participate in gold and
silver swaps and derivatives designed to hedge banks' own risk.
                                
 * But they would need to spin off dealing operations that
handle agricultural, energy and metal swaps, equity swaps and
uncleared credit default swaps.
                                
 MARKETS NEWS
                                
 * The Nasdaq and S&P 500 rose modestly on Friday on relief
that the financial regulation bill wouldn't crimp Wall Street
profits as badly as feared and as tech company Oracle's strong
results revived hopes about business spending. [.N]
                                
 * First-quarter economic growth in the U.S. was slower than
previously estimated in the first quarter, as estimate of
business and consumer spending were cut, government data
showed. [ID:nN24163944]
                                
 * But U.S. consumer sentiment rose in June to its highest
since January 2008 while reports of job losses were down
sharply from a year earlier, a survey showed on Friday.
[ID:nN25195328]
                                
 * The dollar was subdued on Monday, with investors seeking
to cut long positions built in favour of the greenback, while
the euro held gains as the focus shifted to the sustainability
of an U.S. recovery from the euro zone's woes. [USD/]
                                
 DATA/EVENTS
                                
 Data expected on Monday <ECON> (GMT):
                                
 * Euro zone May M3 money supply -0800
                                
 * U.S. May personal income      -1230
                                
 * U.S. May personal spending    -1230
                                
 RELATED NEWS
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 > PRECIOUS-Gold rises toward $1,260/oz on economic
[nLDE65O0GM]
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[ID:nN25564061]
                                
 PRICES
 Metal         Last      Change  Pct chg  Two day chg  MA 30 
RSI
 Spot gold    $1256.75    $3.35  +0.27%    +8.54%   $1223.61 
66
 Spot silver    $19.14    $0.10  +0.53%    +5.28%     $18.37 
66
 Spot plat    $1587.25   $20.75  +1.32%    +1.23%   $1555.83 
61
 COMEX gold   $1258.30    $2.50  +0.20%    +1.03%   $1194.76 
65
 TOCOM gold      3,622       36  +1.00%    +1.20%      3,595  
TOCOM plat      4,600       79  +1.75%    +1.48%      4,565  
Currencies                                               
Euro/dlr       $1.239   $0.002  +0.16%    +0.11%
 Dlr/yen         89.30    -0.03  -0.03%    +0.02%
 (Reporting by Nick Trevethan; Editing by Clarence Fernandez)