PRECIOUS-Gold edges down but econ worries support

                                
 SINGAPORE, July 1 (Reuters) - Gold slipped on Thursday as
investors waited for more clues to the state of the global
economy after stock markets recorded their worst quarter since
the final three months of 2008.
                                
 FUNDAMENTALS
                                
 * Spot gold <XAU=> fell 85 cents to $1,240.50 an ounce by
0042 GMT. Gold, which hit a record above $1,264 last week, rose
more than 11 percent in the second quarter as safe-haven demand
lifted the metal to its best quarterly performance since the
fourth quarter of 2007.
                                
 * U.S. gold futures for August delivery <GCQ0> fell $4.2 an
ounce to $1,241.7.
                                
 * The world's largest gold-backed exchange-traded fund,
SPDR Gold Trust <GLD.P> said its holdings were unchanged at a
record of 1,320.436 tonnes. [GOL/SPDR]
                                
 MARKET NEWS
                                
 * The euro held gains on Thursday, on relief that funding
strains amongst euro zone banks were not as bad as previously
thought, but risk sentiment remained dour after U.S. stocks
took a late hit. [USD/]
                                
 * Japan's Nikkei average fell 1 percent to hit a
seven-month low on Thursday after U.S. stocks staggered to the
end of a dismal second quarter as investors found little reason
to take on risk after conflicting economic data. [.T] [.N]
                                
 * World stocks closed out a dismal second quarter on
Wednesday with a late-day sell-off after Moody's Investors
Service Inc. said it may downgrade Spain's AAA credit rating
and on persistent worries about global growth. [MKTS/GLOB]
                                
 DATA EVENTS
                                
 The following data is expected on Tuesday   <ECON>:
                                
 - CHINA OFFICIAL PMI FOR JUNE            (0100 GMT)
                                
 - AUSTRALIA MAY BUILDING APPROVALS       (0130 GMT)
                                
 - AUSTRALIA MAY RETAIL SALES             (0130 GMT)
                                
 - GERMAN RETAIL SALES FOR MAY            (0600 GMT)
                                
 - FRENCH PPI FOR MAY                     (0645 GMT)
                                
 - EURO ZONE MANUFACTURING PMI FOR JUNE   (0758 GMT)
                                
 - UK MANUFACTURING PMI FOR JUNE          (0828 GMT)
                                
 - CHALLENGER U.S. JOB CUTS FOR JUNE      (1130 GMT)
                                
 - WEEKLY U.S. JOBLESS CLAIMS             (1230 GMT)
                                
 - U.S. PENDING HOME SALES FOR MAY        (1400 GMT)
                                
 - U.S. CONSTRUCTION SPENDING FOR MAY     (1400 GMT)
                                
 - U.S. ISM FOR JUNE                      (1400 GMT)
                                
 - U.S. AUTO SALES FOR JUNE                    (N/A)
                                
RELATED NEWS > Fed officials see soft recovery, more
uncertainty [nN30215459] > Tankan shows Japan business mood
best in 2 yrs 
 [nTOE65T08P] > U.S. House passes landmark financial reform
bill  [nN30180143] > US group urges Senate to reject China
forex bill  [nN30222551] > Australia manufacturing grows at
slower pace      [nSGE65T08I] > US private sector sees small
job gains in June    [nN30395701] > China official PMI set to
ease again in June      [nTOE65T08I] > Banks borrow less than
expected from ECB          [nLDE65T0VB] > Euro zone inflation
below forecast, seen subdued  [nLDE65T0Y6] > German
unemployment falls, seen bottoming soon    [nLDE65T0JW] 
 Precious metals prices at 0042 GMT
 Metal             Last    Change  Pct chg  YTD pct chg
Turnover
 Spot Gold        1240.50   -0.85   -0.07     13.22
 Spot Silver        18.57    0.02   +0.11     10.34
 Spot Platinum    1514.00  -17.50   -1.14      3.20
 Spot Palladium    440.00   -2.00   -0.45      8.51
 TOCOM Gold       3537.00   -8.00   -0.23      8.53       
16678
 TOCOM Platinum   4335.00  -34.00   -0.78     -1.05       
10448
 TOCOM Silver       53.40   -0.10   -0.19      3.29          
92
 TOCOM Palladium  1263.00  -34.00   -2.62      8.41         
236
 Euro/Dollar       1.2233
 Dollar/Yen         88.41
 TOCOM prices in yen per gram. Spot prices in $ per ounce.
  (Reporting by Lewa Pardomuan; Editing by)