SINGAPORE, Aug 30 (Reuters) - Gold regained strength on Tuesday as bargain hunting resurfaced after prices dropped more than 2 percent in the previous session, but higher equities and easing worries about recession in the United States could limit gains.
FUNDAMENTALS
* Spot gold added $1.34 to $1,788.59 an ounce by 0014 GMT. Last week, prices were highly volatile sliding more than $200 from a record $1,911.46 an ounce, dropping towards $1,700.
* U.S. gold
* The Nikkei rose 1.3 percent on Tuesday after U.S. stocks surged on strong consumer spending data and a merger between two big Greek banks which provided relief in debt-stricken Europe.
* U.S. consumer spending rose at its fastest pace in five months in July, a further sign the economy is not falling back into recession, although manufacturing activity in Texas almost stalled this month.
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MARKET NEWS
* Stocks rallied on Monday along with oil after a merger between two major banks in Greece gave investors a rare bit of encouraging news out of Europe.
* Brent crude rose a fifth straight session on Monday as equities rallied on a rise in consumer spending and strong financials.
DATA/EVENTS (GMT)
0530 India Quarterly GDP yy Apr 2011
0900 EZ Business climate Aug 2011
0900 EZ Economic sentiment Aug 2011
1145 U.S. ICSC chain stores yy Weekly
1300 U.S. CaseShiller 20 mm nsa Jun
1300 U.S. CaseShiller 20 yy Jun
1400 U.S. Consumer confidence Aug Precious metals prices 0014 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1788.59 1.34 +0.07 26.01 Spot Silver 40.82 0.04 +0.10 32.27 Spot Platinum 1821.99 4.24 +0.23 3.08 Spot Palladium 752.50 2.32 +0.31 -5.88 TOCOM Gold 4430.00 -55.00 -1.23 18.80 44921 TOCOM Platinum 4552.00 -3.00 -0.07 -3.07 2089 TOCOM Silver 100.70 0.00 +0.00 24.32 171 TOCOM Palladium 1872.00 -4.00 -0.21 -10.73 163 COMEX GOLD DEC1 1791.60 0.00 +0.00 26.04 1954 COMEX SILVER SEP1 40.84 0.29 +0.73 32.00 278 Euro/Dollar 1.4517 Dollar/Yen 76.88 TOCOM prices in yen per gram. Spot prices in $ per ounce. COMEX gold and silver contracts show the most active months (Reporting by Lewa Pardomuan; Editing by Himani Sarkar)