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PRECIOUS-Gold flat after coming off 2-month low; US election in focus

SINGAPORE, Nov 6 (Reuters) - Gold traded steady on Tuesday as investors awaited potential policy spinoffs from the U.S. presidential election, while China's upcoming leadership transition and Greece's strike over a new austerity package also kept sentiment cautious.

FUNDAMENTALS

* Spot gold ticked up $1.47 to $1,685.46 an ounce by 0017 GMT, rebounding from a two-month low of $1,672.24 in the previous session.

* U.S. gold inched up 0.2 percent to $1,685.70.

* All eyes are on the U.S. presidential election due to take place later in the day, as President Barack Obama and Republican candidate Mitt Romney engaged in frantic last-minute campaigns in a sprint through swing states.

* A win by President Obama could be positive for gold as he is seen more supportive of stimulus measures, while additional monetary easing may be out of question if Romney won, analysts have said.

* The expansion in the vast U.S. services sector slowed slightly last month, suggesting growth in the world's largest economy would remain modest, while activity in China's services industry also waned.

* Greece's government presented a new austerity package to parliament on Monday as a week of strikes and protests kicked off over proposals that lawmakers must approve if the country is to secure more aid and stave off bankruptcy.

* China's ruling Communist Party opens its 18th Congress on Thursday, a complicated political coronation that will install the country's fifth generation of leaders.

* Hong Kong's gold shipment to mainland China in September jumped 23 percent on the year to 69.711 tonnes as demand picked up ahead of the holiday season, although net exports decreased 13 percent on the year.

* Holdings of gold-backed exchange-traded funds stood at 75.074 million ounces by Nov. 4, just a hair off the historical high of 75.086 million ounces hit in late October.

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MARKET NEWS

* U.S. stocks advanced modestly on Monday in light trading in one of the year's quietest sessions on the day before the U.S. presidential election.

* The euro languished at eight-week lows versus the greenback on Tuesday, having fallen broadly as a Greek parliament vote on a new austerity package loomed.

DATA/EVENTS

0330 Australia RBA cash rate Nov 0858 Euro zone Markit Services PMI Oct 1000 Euro zone Producer prices Sep 1100 Germany Industrial orders Sep 1245 U.S. ICSC weekly chain store sales 1355 U.S. Redbook weekly retail sales

PRICES

Precious metals prices 0017 GMT

Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1685.46 1.47 +0.09 7.78 Spot Silver 31.17 0.02 +0.06 12.57 Spot Platinum 1539.40 0.16 +0.01 10.51 Spot Palladium 609.00 0.03 +0.00 -6.67 COMEX GOLD DEC2 1685.70 2.50 +0.15 7.59 1262 COMEX SILVER DEC2 31.20 0.07 +0.23 11.77 545 Euro/Dollar 1.2794 Dollar/Yen 80.17

COMEX gold and silver contracts show the most active months

(Reporting by Rujun Shen; Editing by Ed Davies)