Gold on Wednesday slipped from near three-month highs hit in the previous session, easing on a stronger dollar amid political and economic uncertainty in the United States and Europe. 

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                          FUNDAMENTALS

* Spot gold was down 0.2 percent to $1,231.50 per ounce at 0100 GMT. On Tuesday, the metal touched its highest since Nov. 11 at $1,235.78. 

* U.S. gold futures fell 0.2 percent to $1,232.90 an ounce. 

* The dollar index, which measures the greenback against a basket of currencies, was up 0.2 percent at 100.510. 

* SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 1.01 percent to 826.95 tonnes on Tuesday from on Monday. Holdings rose for a fifth straight session.  

* The U.S. trade deficit fell in December as exports hit their highest level in more than 1-1/2 years amid record shipments of technology products, but strengthening domestic demand points to further rises in imports, which could constrain economic growth.