REFILE-PRECIOUS-Gold falls as euro zone worries trigger selling

* Investors take profits after last week's gain
* U.S. 'fiscal cliff,' safe-haven demand in focus
* Coming up: Johnson Matthey platinum group report Tuesday

By Frank Tang
NEW YORK, Nov 12 (Reuters) - Gold moved lower on Monday as a
lack of an agreement by euro zone governments to disburse more
money to Greece prompted bullion investors to sell and take
profits.
The metal on Monday largely tracked lower with riskier
assets such as the euro after euro zone finance ministers gave
Athens two more years to make the budget deficit cuts they
demanded.
A steadier Wall Street, amid better economic sentiment
following last week's over 2 percent drop in S&P 500 index
, lessened safe-haven demand in gold, analysts said.
"Healthy economic data in the short term will be negative
for risk-on markets as it reduces the urgency for global central
banks to continue their 'easy money' stance," said Adam Sarhan,
CEO of Sarhan Capital.
Spot gold edged down 0.2 percent to $1,727.39 by 3:33
p.m. EST (2033 GMT), within reach to a three-week high around
$1,738 struck on Friday.
Flight-to-quality buying lifted gold 3.2 percent last week,
its biggest weekly rise since late August.
Global markets have turned their focus from the election to
the U.S. "fiscal cliff", a combination of government spending
cuts and tax increases due to be implemented under existing law
in early 2013.
Gold would benefit from the government spending cuts and tax
increases as a U.S. fiscal crisis could send the economy back
into recession, economists say.
An encouraging U.S. nonfarm payrolls report earlier this
month had erased all of gold's gains, gains that followed the
Federal Reserve in September announcing it would keep buying
mortgage-backed securities until the job market dramatically
improves.
U.S. COMEX gold futures for December delivery settled
unchanged at $1,730.90 an ounce.
Trading volume was lower than usual, 30 percent below its
250-day average, as the U.S. bond market was closed for the U.S.
Veteran's Day holiday and as the Hindu festival of Diwali began
in India.
Silver dropped 0.6 percent to $32.38 an ounce.
In metals exchange news, the president of the Shanghai Gold
Exchange told Reuters at the London Bullion Marketing
Association (LBMA) conference that the bourse would launch an
interbank market early next month that would start with spot
contracts and gradually offer forward contracts.
Among platinum group metals, platinum rose 0.5
percent to $1,558.10 an ounce, while palladium inched
down 12 cents at $603.80 an ounce.
PGM traders will closely watch an industry report on Tuesday
by platinum refiner Johnson Matthey which will shed light on
whether reduced supply due to mine labor violence in top
producer South Africa might turn the market into a deficit this
year.

3:33 PM EST LAST/ NET PCT LOW HIGH CURRENT
SETTLE CHNG CHNG VOL
US Gold DEC 1730.90 0.00 0.0 1725.20 1738.00 100,869
US Silver DEC 32.522 -0.077 -0.2 32.175 32.745 31,519
US Plat JAN 1566.50 7.10 0.5 1555.40 1571.80 3,911
US Pall DEC 608.05 -3.00 -0.5 606.00 614.45 2,760

Gold 1727.39 -3.52 -0.2 1726.38 1737.80
Silver 32.380 -0.200 -0.6 32.230 32.740
Platinum 1558.10 8.11 0.5 1557.50 1567.25
Palladium 603.80 -0.12 0.0 609.00 612.50

TOTAL MARKET VOLUME 30-D ATM VOLATILITY
CURRENT 30D AVG 250D AVG CURRENT CHG
US Gold 127,854 151,895 177,297 15.87 -0.11
US Silver 40,260 42,511 55,943 23.94 -0.34
US Platinum 4,067 8,893 9,465 18.84 0.00
US Palladium 3,055 3,457 4,495