SHANGHAI, Sept 2 (Reuters) - Gold was steady on Thursday, easing from a two-month top hit on Wednesday after better-than-expected U.S. factory data calmed worries about worsening economic conditions. FUNDAMENTALS * Spot gold gained 0.1 percent, or $1.35, to $1,244.85 an ounce. It hit $1,254.65 on Wednesday, its highest since June 28. * U.S. gold futures for December delivery was little changed at $1,246.9. * Better-than-expected U.S. manufacturing data and strong China data helped lift the sentiment in financial markets, sending copper to its 4-month peak and helping the U.S. stocks to post its best day in eight weeks. * The U.S. manufacturing sector expanded for the 13th straight month and grew faster than expected in August, easing fears the world's largest economy may fall back into recession. [ID:nN01115648] * Holdings in the world's largest gold-backed exchange-traded fund, SPDR Gold Trust , rose to 1,304.028 tonnes on September 1, from 1,302.508 tonnes on August 31. MARKET NEWS * Wall Street posted its best day in eight weeks on Wednesday as investor mood brightened after better-than-expected factory data from the United States and China.[.N] * The dollar and the yen were on the defensive on Thursday, retaining most losses of the previous day when upbeat data helped lure investors away from safe-haven currencies and assets.[USD/] DATA/EVENTS 1145 EZ ECB rate decision Sep 1230 U.S. Initial jobless claims Weekly 1400 U.S. Factory orders July 1400 U.S. Pending home sales July RELATED NEWS > US manufacturing grows in Aug, private jobs cut [ID:nN01115648] > Wall St jumps on data to mark best day in 8 wks [ID:nN01131539] > Fed officials say more easing won't help on jobs[ID:nN01150414] > IMF sees strong S.Korea growth [ID:nN01644562] > Factories busier in China, US; Europe slows [ID:nSGE68002V] > Romer: US must find will for further stimulus [ID:nN01106363] > US auto sales post weakest August since 1983 [ID:nSGE6800C0] > Regulators say US bank reforms help avoid crises[ID:nN01120331] > German retail sales dip, recovery euphoria dims [ID:nLDE6800AN] > Oil ends higher on upbeat US, China data [ID:nSGE68004F] > UK Aug manufacturing PMI falls, lowest since Nov[ID:nLDE6800QB] > Irish recovery sputters as retail dips, jobless [ID:nLDE68010V] PRICES Precious metals prices at 0026 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 1244.85 1.35 +0.11 13.61 Spot Silver 19.32 0.00 +0.00 14.80 Spot Platinum 1530.50 2.50 +0.16 4.33 Spot Palladium 514.00 -2.00 -0.39 26.76 TOCOM Gold 3391.00 -10.00 -0.29 4.05 15106 TOCOM Platinum 4186.00 29.00 +0.70 -4.45 5742 TOCOM Silver 53.00 -0.10 -0.19 2.51 527 TOCOM Palladium 1399.00 31.00 +2.27 20.09 323 Euro/Dollar 1.2796 Dollar/Yen 84.47 TOCOM prices in yen per gram. Spot prices in $ per ounce. (Reporting by Rujun Shen and Jacqueline Wong; Editing by Clarence Fernandez)

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