LONDON, March 3 (Reuters) - Gold slipped on Thursday after
the Arab League said a Venezuelan proposal to end the Libyan
conflict was under consideration, but uncertainty over the
future of the region kept prices in sight of record highs.

 Arab League Secretary General Amr Moussa told Reuters on
Thursday that the a plan to bring peace to proposed by
Venezuelan leader Hugo Chavez was " under consideration." 

 While this has eroded some of the safe-haven demand that has
shot gold and the Swiss franc to all-time highs this week,
financial markets are on edge, as reflected by volatility
indices such as the VIX .VIX hovering near 3-1/2 month highs.

 Spot gold XAU=, which has risen by 10 percent in the six
weeks since the unrest in Tunisia and Egypt spilled into Libya,
Yemen, Bahrain and, most recently, Oman and Iran, hit a record
$1,440.10 an ounce on Wednesday.

 The gold price was last down 0.4 percent at $1,428.66 an
ounce at 1145 GMT, while U.S. April gold futures GCv1 were
down 0.6 percent at $1,429.30. 


    

LONDON, March 2 (Reuters) - Gold eased back from records set
in the previous session while silver hit a 31-year high on
Wednesday as tensions in the Middle East underpinned safe-haven
demand and surging oil prices boosted their investment allure.

 PRICES
  * Spot gold XAU= was bid at $1,428.97 at 0725 GMT from
$1,433.70 late in New York on Tuesday when it hit $1,434.65, its
most recent record high.

 * Silver XAG= was at $34.47 from $34.66. It earlier struck
$34.74 an ounce, its highest since early 1980.

 DATA/EVENTS

 * Challenger job cuts for February at 1230 GMT.

 * ADP Nat Employment figures for February at 1315 GMT.

 MARKET NEWS

 * Oil rose towards a 2-1/2 year high and stocks fell on
Wednesday as investors shunned risky assets on concern that
escalating tension in Libya would spread in the Middle East and
disrupt fuel supplies. 

 * The euro fell slightly on Wednesday after yet again
failing to break through a key resistance level, helping lift
the dollar off a 3-1/2 month low against a basket of currencies.
 

 * Brent oil extended gains on Wednesday after settling at a
near 2-1/2-year high as tension in Libya ratcheted up, spurring
fears  other producers in the Middle East and North Africa could
face similar revolts while crude and gasoline stocks
unexpectedly fell in the world's top oil importer, the United
States.

 * Concerns that rising oil prices could hurt economic
recovery prompted investors on Tuesday to sell stocks and hedge
against further declines.

 * European stock index futures pointed to a lower open on
Wednesday, mirroring losses in U.S. and Asian shares as rising
tensions in the Middle East and North Africa lift oil prices and
stoke inflation fears. 

 FUNDAMENTALS 

 * Holdings in the world's largest silver-backed
exchange-traded fund, iShares Silver Trust (SLV), rose to
10,693.68 tonnes by March 1, their highest since Jan. 14, from
10,666.35 tonnes on Feb 24.

  *  A clash between Peruvian police and wildcat gold miners
resulted in the death of one miner and the wounding of 14 others
on Tuesday at a protest against the army's seizure of illegal
dredges in the Amazon basin, a witness said.


  

 * Democratic Republic of Congo will lift the mining ban on
March 10 which it imposed on its eastern provinces last
September to cut off funding to armed groups, Mines Minister
Martin Kabwelulu said on Tuesday.

 TECHNICALS

 * Gold support at $1,417 an ounce, resistance at $1,450 an
ounce and 14-day RSI at 68.5.

 * Platinum support at $1,820 an ounce, resistance at $1,862
and 14-day RSI at 55.1.

 * Silver support at $33.60 an ounce, resistance at $37.10
and 14-day RSI at 69.4.
  
(Reporting by Melanie Burton, editing by Alison Birrane)

LONDON, March 1 (Reuters) - Gold hit three-month highs on
Tuesday as escalating violence in Libya and unrest spreading
across the Middle East boosted the metal's appeal as a
safe-haven from risk, while silver hit fresh 31-year peaks.

 Gold has rallied strongly since uprisings in Tunisia and
Egypt unleashed a swathe of popular protests across the region,
sending oil prices to 2-1/2-year highs and raising investors'
concern about potential impacts of high energy prices on growth.

 Tensions in the region worsened as Libyan leader Muammar
Gaddafi despatched forces to a western border area in defiance
of Western military and economic pressure. 

 Spot gold XAU= rose to a session peak at $1,423.65 an
ounce -- its highest since Dec. 7 when it hit a record high of
$1,430.95. The metal was up 0.8 percent at $1,421.95 an ounce by
1533 GMT from $1,410.85 late in New York on Monday.

SINGAPORE, March 1 (Reuters) - Spot gold edged up on Tuesday
as escalating unrest in Libya and the Middle East supported
safe-haven demand, though holdings in the biggest gold-backed
exchange-traded fund fell to the lowest level in more than nine
months.	

 Forces loyal to Libyan leader Muammar Gaddafi were massed
near the Tunisian border on Tuesday, as the United States said
it was moving warships and aircraft closer to Libya, heightening
tension in the volatile region. 	

 Spot gold edged up 0.3 percent at $1,414.66 an ounce
by 0642 GMT, pushing for a third straight day of gains. It had
been moving in a narrow range of just below $6.	

 The most active U.S. gold futures contract edged down
0.4 percent at $1,415.40.	


==
 Brent crude rose above $112 a barrel on Tuesday as the
ongoing unrest in the Middle East and North America threatened
to further reduce crude supplies. 	
 A sustained period of higher oil prices would significantly
affect developing economies but is unlikely to derail their
strong recovery from the global financial crisis, a senior World
Bank economist said. 	
 Separately, the IMF warned extended higher oil prices would
hit world growth. 	
 Spot silver hit an intra-day high of $34.11 and eased


to $34.08. It struck a 31-year high at $34.30 last week.	  

SINGAPORE, March 1 (Reuters) - Spot gold held steady just
below $1,410 on Tuesday, as investors continued to watch the
unfolding unrest in Libya and other nations in the region as
well as oil prices.	

 FUNDAMENTALS	

 * Spot gold edged down $1 at $1,409.85 an ounce by
0035 GMT.	

 * The most active U.S. gold futures contract was
little changed at $1,410.70.	

 * Oil prices held steady, after falling on Monday in
volatile trading as expectations that increased oil production
from Saudi Arabia can offset supply disruptions in the region.
  	

 *  A sustained period of higher oil prices would
significantly affect developing economies but is unlikely to
derail their strong recovery since the global financial crisis,
a senior World bank economist said on Monday. 	

 * The latest U.S. data showed a mixed picture. While the
manufacturing sector roared forward this month, consumer
spending barely edged up in January. 	

 * A global economic pickup could hit gold prices later this
year and in 2012 cause a drop of nearly 20 percent as
speculators exit the market, according to a forecast by
Australia, the world's second-largest gold producing nation.
 	

 * In the United States, consumer spending barely edged up in
January as households took advantage of tax cuts to rebuild
their savings, suggesting spending would offer only a modest
lift to the recovery in the first quarter. 	

 * Holdings in the SPDR Gold Trust slipped to 1,210.961
tonnes by Feb. 28, its lowest since mid-May last year.
 	

 MARKET NEWS	

 * Bullish comments from Warren Buffett helped U.S. stocks
end another good month on a high note on Monday, but uncertainty
about oil prices could keep investors from pushing the market
much higher. 	

 * The dollar struggled to regain its footing in Asia on
Tuesday after a steep decline, while the euro held firm as
investors bet the Federal Reserve will stick to its easing
course even as the ECB talks of tightening.