SINGAPORE (Reuters) - Gold was barely changed on Tuesday and held near its weakest level in two months as a firmer U.S. dollar and rallies in equities undermined the metal's appeal as an alternative investment.
FUNDAMENTALS
* Spot gold was little changed at $1,277.40 an ounce by 0032 GMT, within sight of a two-month low of $1,273.06 hit on Aug. 21.
* U.S. gold was flat at $1,278.10 an ounce.
* China's net gold imports in July from main conduit Hong Kong tumbled to their lowest since June 2011 because the country already has ample supply from shipments in earlier months, while jewellers are waiting for lower prices.
* The chief executive of platinum producer Lonmin denied assertions from mining industry sources on Monday that the company aimed to cut around 5,700 jobs as part of a drive to restore profits after a five-month strike.
* Russia increased its gold holdings for a fourth straight month in July, adding 10.6 tonnes to its reserves, while Turkey lowered its holdings by 4.3 tonnes, data from the International Monetary Fund showed on Monday.
* SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.37 percent to 797.09 tonnes on Monday from 800.08 tonnes on Friday. [GOL/SPDR]
* The United States is preparing military options, including surveillance flights, to pressure Islamic State in Syria, U.S. officials said on Monday, but they cautioned no decision had been made to expand U.S. action beyond the limited airstrikes under way in Iraq.
(Reporting by Lewa Pardomuan; Editing by Subhranshu Sahu)
