SINGAPORE, Oct 10 (Reuters) - Gold slid nearly 2 percent to track oil on Thursday, with money moving back to stocks following a worldwide cuts in interest rates -- an unprecedented move which also lifted copper and agricultural products. The MSCI index of Asia-Pacific shares outside of Japan <.MIAPJ0000PUS> rose 1.6 percent, recovering from a 9 percent fall the previous day, after central banks from China to Europe and the United States cut interest rates, helping ease fears about the worst financial crisis since the Great Depression. "I just think it's more of the day-to-day swings in investor sentiment," said Darren Heathcote of Investec Australia in Sydney. "I guess once the markets are crashing, there will be some money coming out of gold still to pay for margin calls." Gold hit an intraday high of $908.90 an ounce -- not far from a 1-week high of $920 hit on Wednesday before slipping to around $892.05 an ounce as stock markets rallied. A jump in holdings in the SPDR Gold Trust to a record of 763.90 tonnes on Wednesday reflected investor's growing interest in bullion as a safe-haven asset as fears of a global recession persisted. The SPDR is the world's largest gold-backed exchange-traded fund. Crude oil fell $1.41 to $87.54 a barrel, within sight of a 10-month low of $86.05, as the coordinated rate cuts failed to ease worries of an economic downturn. "The slashing of borrowing rates was not enough to sustain the market as further demand destruction data as well as bearish U.S. inventory numbers caused traders to push the market lower once again," said Jonathan Kornafel, Asia director at options trader Hudson Capital Energy. A much larger than expected rise in U.S. crude and gasoline inventories underlined worries the economic crisis would hit oil demand, a concern that has sent crude falling about $60 a barrel from its record high above $147 in July. While oil suffered from losses, London Metal Exchange copper futures bounced from a two-and-a-half year low. Three-month copper ticked up $10 a tonne to $5,250, just off its weakest since March 2006 after a 7 percent slide on Wednesday. Prices have tumbled by almost a quarter in less than two weeks. "Looking farther ahead however, and barring complete financial and economic Armageddon, the global economy will pick itself up and demand for metals will build once again," Standard Bank said. "On that basis, the combination of weak metal prices, high costs and tighter credit conditions will decimate mine development plans and see the project pipeline for most of the base metals slow to a mere trickle or dry up completely." In agricultural markets, U.S. corn and wheat prices extended their rebound from year lows, aided by the tentative recovery on financial markets, while soybeans alsogained as rains delayed the U.S. harvest. The most active rubber contract on the Tokyo Commodity Exchange added 0.5 yen per kg to 205.9 yen in a technical rebound after ending the 16 yen limit down on Wednesday on fears of falling demand for tyres. Auto industry research firm Global Insight said on Wednesday that U.S. auto sales would fall further in 2009 from this year's depressed levels as the escalating credit crisis hurt consumer confidence. (Additional reporting by Nick Trevethan and Annika Breidthardt in Singapore, Bruce Hextall in Sydney, Risa Maeda in Tokyo and Apornrath Phoonphongphiphat in Bangkok)

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