SINGAPORE, Aug 29 (Reuters) Gold fell on Wednesday as stock markets dropped and continued credit av

SINGAPORE, Aug 29 (Reuters) Gold fell on Wednesday as stock markets dropped and continued credit availability concerns prompted some investors to trim positions.

-- Spot gold dipped to $661.80/662.80 an ounce from $663.50/664.30 late in New York on Tuesday, when it fell nearly $3 an ounce on declines in equities, weaker oil and fears of a global credit crisis.

-- The new benchmark August 2008 gold futures on the Commodity Exchange started trading on Wednesday and was quoted at 2,458 yen per gram after opening at 2,452 yen.

-- The Nikkei <.n225> fell more than 2 percent on Wednesday, led by high-tech exporters such as Sony Corp after economic and credit worries drove Wall Street sharply lower overnight and the yen firmed.

-- The yen extended its gains against major currencies as risk-wary investors were rattled by a stock market sell-off and a report showing Federal Reserve officials' worries about market conditions.

-- The dollar fell to near 114.00 yen , retreating towards the 14-month low of 111.60 yen hit on electronic trading platform EBS earlier in the month. The euro dipped to $1.3575 .

-- Platinum rose to $1,256/1,261 an ounce from $1,253/1,258 an ounce late in New York.

-- Palladium rose to $324/329 an ounce from $323/327 late in New York.

-- Silver edged down to $11.71/11.74 an ounce from $11.72/11.77 an ounce.

Precious metals prices at 0037 GMT Last Net Change Pct Move Turnover (lots) Spot Gold 661.70 Spot Platinum 1254.00 Spot Silver 11.68 Spot Palladium 324.00 Change so far in 2007 Metal Latest bid End prev year Pct Move TOCOM Gold 2458.00 2445.00 +0.53 TOCOM Platinum 4556.00 4254.00 +7.10 TOCOM Silver 433.10 493.30 -12.20 TOCOM Palladium 1211.00 1255.00 -3.51 Spot Gold 661.70 636.10 +4.02 Spot Platinum 1254.00 1132.00 +10.78 Spot Silver 11.68 12.85 -9.11 Spot Palladium 324.00 332.00 -2.41 Euro/Dollar $1.3570 Dollar/Yen 114.14 TOCOM prices in yen per gram, except TOCOM silver which is priced in yen per 10 grams spot prices in $ per ounce.

Reuters RKM VP0622