Gold edges down, US fiscal talks in focus

Gold inched down on Thursday, giving up overnight gains in thin post-Christmas trade, with investors keeping a close eye on talks between the White House and Congress to prevent the US economy from plunging into recession next year.

FUNDAMENTALS

* Spot gold had dropped USD 2.83 an ounce to USD 1,656.66 by 0025 GMT, but still off a 4-month low struck last week.

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* US gold for February slipped USD 3.10 an ounce to USD 1,657.60.

* In a sign that there may be a way through deadlock in Congress, Republican House of Representatives Speaker John Boehner urged the Democrat-controlled Senate to act to pull back from the so-called fiscal cliff and offered to at least consider any bill the upper chamber produced.
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