PRECIOUS-Gold eases but above 1-week lows, eyes on Dubai

                                
 TOKYO, Nov 30 (Reuters) - Gold eased on Monday but stayed
well above one-week lows hit the previous business day, as Dubai
debt default fears kept intact bullion's safe-haven appeal.
                                
 FUNDAMENTALS
                                
 * Spot gold <XAU=> fell 0.7 percent to $1,168.45 per ounce as
of 0003 GMT, compared to New York's notional close of $1,176.70.
Bullion hit a low of $1,136.80 an ounce on Friday, the lowest
since Nov. 20.
                                
 * Dubai said on Wednesday two flagship firms planned to delay
repaying billions of dollars in debt, and renewed credit fears
initially forced investors to heavily sell gold and raise cash to
cover losses in equities as well as oil and other commodities.
                                
 * Bullion rose to a record high of $1,194.90 last Thursday on
expectations that central banks in emerging countries will keep
buying bullion from the International Monetary Fund.
                                
 * U.S. gold futures for December delivery <GCZ9> eased 0.5
percent to $1,169.20 per ounce, compared to $1,174.20 an ounce in
the COMEX division of the NYMEX.
                                
 * Other precious metals also bounced from lows hit on Friday.
Silver <XAG=> was at $18.19 an ounce on Monday, after hitting a
two-week low of $17.66 an ounce the previous business day. On
Friday, platinum <XPT=> and palladium <XPD=> touched one-week
lows of $1,418.50 and $351 an ounce respectively.
                                
 * The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust <GLD>, said its holdings stood at 1,127.860 tonnes as
of Nov. 27, unchanged from the previous business day on Nov. 25.
U.S. markets were closed on Thursday for the Thanksgiving
holiday. [GOL/SPDR]
                                
 MARKET NEWS
                                
 * U.S. stocks fell more than 1 percent in a truncated session
on Friday as a possible debt default by a Dubai state-owned
conglomerate led to fresh concerns about the global financial
system. [.N]
                                
 * The dollar eased on Monday after the United Arab Emirates'
central bank set up an emergency facility on Sunday to support
bank liquidity in the first policy response to Dubai's debt woes.
The dollar rose against the euro and a basket of major currencies
on Friday as fears of a possible Dubai debt default boosted the
greenback's safe-haven appeal. [USD/]
                                
 DATA EVENTS
                                
 * The following events are expected on Monday: <ECON>
                                
 - Bank of Japan Governor Masaaki Shirakawa meets business
leaders. (0100 GMT)
                                
 - BOJ Governor Shirakawa holds news conference. (0445 GMT)
                                
 - Flash euro zone harmonised consumer prices. (1000 GMT)
                                
 - ISM New York for November. (1330 GMT)
                                
 - Chicago ISM for November. (1445 GMT)
                                
 RELATED NEWS
 >Gold falls but off 1-week lows on Dubai fears            [GOL/]
 >UAE cbank sets up emergency facility for banks  [ID:nGEE5AS075]
 >UAE moves to counter Dubai fallout but mkts wary[ID:nGEE5AS0AH]
 >Commodities plunge on Dubai crisis but end off lows  [COM/WRAP]
                                
 PRICES
                                
 Precious metals prices at 0009 GMT
 Metal         Last      Change  Pct chg  Day ago pct  MA 30  RSI
 Spot gold    $1169.65   -$7.05  -0.60%   +30.40%    $860.10   66
 Spot silver    $18.20   -$0.05  -0.27%   +51.92%     $11.29   51
 Spot plat    $1442.50    $6.00  +0.42%    +0.42%   $1393.60   58
 COMEX gold   $1171.30   -$4.20  -0.36%    -1.88%   $1110.08   69
 TOCOM gold      3,270       72  +2.25%    +0.43%      3,196   53
 TOCOM plat      4,040       52  +1.30%    +0.97%      3,988   48
 Currencies
 Euro/dlr       $1.499  -$0.004  -0.24%    +0.00%
 Dlr/yen         86.59    -0.28  -0.32%    +0.20%
 (Reporting by Chikako Mogi; Editing by Michael Watson)
 ((chikako.mogi@thomsonreuters.com; +81-3-6441-1871; Reuters
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