PRECIOUS-Gold up, silver ETF gains as price near 31-yr high

                                
 TOKYO, Feb 21 (Reuters) - Gold inched up on Monday, adding to
a weekly gain of nearly 3 percent last week as fears over a
European debt crisis and growing unrest in the Middle East
underpinned investor sentiment.
                                
 FUNDAMENTALS
                                
 * Spot gold <XAU=> was steady at $1,390.50 per ounce as of
2330 GMT, compared with $1,388.58 an ounce late in New York on
Friday. It hit a five-week high of $1,391.75 on Friday. Bullion
has risen for five straight sessions, its longest winning streak
since September.
                                
 * U.S. gold futures for April delivery <GCJ1> were at
$1,391.60 per ounce, up $3 or 0.2 percent from Friday's
settlement at $1,388.60.
                                
 * Silver <XAG=> was up 0.8 percent at $32.73 an ounce after
hitting its highest level since 1980 on Friday, at $32.86, driven
by short-term speculation and expectations for more demand for
the industrial metal in an improving economy.
                                
 * Platinum <XPT=> rose 0.4 percent to $1,840 an ounce while
palladium <XPD=> hit a 10-year high of $855.50 in early trade.
                                
 * The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust <GLD>, said holdings fell to 1,223.098 tonnes by
Feb. 20, its lowest in nine months, from 1,224.008 tonnes on Feb.
15. [GOL/SPDR]
                                
 * Holdings in the world's largest silver-backed
exchange-traded fund, iShares Silver Trust <SLV>,  rose to
10,519.05 tonnes by Feb. 18 from 10,438.56 tonnes on Feb. 17.
[ID:nTOE71J00Q]
                                
 MARKET NEWS
                                
 * Members of a Libyan army unit said they had defected and
"liberated" the country's second city from forces loyal to
veteran leader Muammar Gaddafi after scores of protesters were
killed in the bloodiest revolt now shaking the Arab world.
[ID:nLDE71J05Y]
                                
 * Tokyo's Nikkei stock average <.N225> opened down 0.2
percent as profit-taking moved into the market after five
consecutive days of gains. [.T]
                                
 * Late arrivals to the speediest rally in stocks since the
Great Depression pushed stocks higher for a third week on Friday,
despite growing signals of an overheating market. [.N]
                                
 * The euro stood firm early on Monday in Asia after comments
from a European Central Bank official kept alive prospects for
the ECB to hike rates before the Fed, while the Aussie was
resilient in the face of China's latest move to tackle inflation.
[USD/]
                                
 DATA EVENTS
                                
 * The following data is expected on Monday: <ECON>
                                
 - 0758 GMT France Markit/CDAF Mfg FlashPMI Feb 2011
<FRPMIF=ECI>
                                
 - 0828 GMT Germany Markit/BME MFG Flash PMI Feb 2011
<DEPMIF=ECI>
                                
 - 0858 GMT EZ Markit Mfg flash PMI Feb 2011 <EUPMMF=ECI>
                                
 - 0900 GMT Germany Ifo business climate Feb 2011 <DEBUSS=ECI>
                                
 - 0900 GMT Germany Ifo current conditions Feb 2011
<DEBUSC=ECI>
                                
 - 0900 GMT Germany Ifo expectations Feb 2011 <DEBUSE=ECI>
                                
 RELATED NEWS
                                
> Gold notches best weekly gain since December         [GOL/]
                                
> China price policy hits copper,grains; helps gold[COM/WRAP]
                                
> Oil slips in volatile trade eyeing Mideast  [ID:nL3E7DI065]
                                
> G20 ministers fudge deal on imbalances      [ID:nLDE71I02C]
 (Reporting by Chikako Mogi; Editing by Edmund Klamann)