LONDON (Thomson Financial) - Gold was little changed near higher levels as the dollar slumped to another record low against the euro ahead of US data that could well put even more pressure on the US currency.

Gold has surged 17 pct since hitting a low of 626 usd on Aug 23 and held above 730 usd today despite yesterday's profit-taking.

The dollar-denominated precious metal trades in the opposite direction to the US currency as it is seen as an alternative asset. Dollar weakness also makes gold cheaper for those trading in other currencies, which spurs buying.

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