Gold slipped on Thursday as investors waited for more clues to the state of the global economy after stock markets recorded their worst quarter since the final three months of 2008.
FUNDAMENTALS
* Spot gold fell 85 cents to $1,240.50 an ounce by 0042 GMT. Gold, which hit a record above $1,264 last week, rose more than 11 percent in the second quarter as safe-haven demand lifted the metal to its best quarterly performance since the fourth quarter of 2007.
* U.S. gold futures for August delivery fell $4.2 an ounce to $1,241.7.
* The world's largest gold-backed exchange-traded fund, SPDR Gold Trust said its holdings were unchanged at a record of 1,320.436 tonnes.
MARKET NEWS
* The euro held gains on Thursday, on relief that funding strains amongst euro zone banks were not as bad as previously thought, but risk sentiment remained dour after U.S. stocks took a late hit.
* Japan's Nikkei average fell 1 percent to hit a seven-month low on Thursday after U.S. stocks staggered to the end of a dismal second quarter as investors found little reason to take on risk after conflicting economic data.
* World stocks closed out a dismal second quarter on Wednesday with a late-day sell-off after Moody's Investors Service Inc. said it may downgrade Spain's AAA credit rating and on persistent worries about global growth.
