Gold prices steadied around $1,040 per ounce on Wednesday, recovering from three-week lows hit the day before when the dollar strengthened against the euro. FUNDAMENTALS * Spot gold XAU= was little changed at $1,039.7 as of 2346 GMT compared to New York's notional close of $1,038.8. Gold hit a three-week low of $1,032.25 on Tuesday. * U.S. gold futures for December delivery GCZ9 were up 0.5 percent at $1,040.8 per ounce, compared to $1,035.40 an ounce on the COMEX division of NYMEX. * Gold futures fell to a three-week low of $1,032.9 on Tuesday to find resistance just above $1,030 an ounce, the long-standing record high it passed on Oct. 6. * The world's largest gold-backed exchange-traded fund, SPDR Gold Trust (GLD), said its holdings stood at 1,105.654 tonnes as of Oct. 27, down 1.22 tonnes or 0.1 percent from the previous business day. It was the second day of declines in a row. [GOL/SPDR] * Weakness in gold weighed on other precious metals on Tuesday, with spot silver XAG= falling to a three-week low of $16.47. Platinum XPT= also touched a three-week low of $1,305.50 an ounce on Tuesday. MARKET NEWS * U.S. stocks fell on Tuesday as investors booked profits following the market's recent run-up, while a weaker-than-expected reading on a measure of consumer confidence raised doubts about spending. [.N] * The dollar was steady against the euro on Wednesday after rising to a two-week high against the single currency the previous day when a report showing U.S. consumer confidence deteriorated sharply in October boosted the greenback's safe-haven appeal. [USD/] * Oil rose above $79 a barrel on Tuesday as data showing rising U.S. gasoline demand helped investors shrug off a drop in consumer confidence in the world's biggest energy user. [O/R] DATA EVENTS * The following data is expected on Wednesday: ECON - Weekly U.S. mortgage market index. (1100 GMT) - U.S> durable goods orders for September. (1230 GMT) - U.S. new home sales for September. (1230 GMT) RELATED NEWS >Gold futures end lower as weak data boosts dollar [GOL/] >Russia will not sell gold in 2009 [ID:nLR374011] >Gold Reserve says Venezuela seized Brisas mine [ID:nN27255880] >Saudi Maaden sees positive Q4 on high gold prices[ID:nLR457610] PRICES Precious metals prices at 2347 GMT Metal Last Change Pct chg Day ago pct MA 30 RSI Spot gold $1039.60 $0.80 +0.08% +15.90% $860.10 43 Spot silver $16.69 $0.04 +0.24% +39.32% $11.29 33 Spot plat $1314.00 $2.00 +0.15% -1.24% $1322.53 37 COMEX gold $1040.80 $0.70 +0.07% -0.19% $1032.13 38 TOCOM gold 0,000 -3128-100.00% -100.00% 3,004 58 TOCOM plat 0,000 -4007-100.00% -100.00% 3,853 55 Currencies Euro/dlr $1.482 $0.001 +0.05% -0.36% Dlr/yen 91.61 -0.17 -0.19% -0.64%

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