Sterling-priced gold hits 2-mth high after data

LONDON, Sept 1 (Reuters) - Gold priced in sterling hit new two-month highs in London on Wednesday as the pound came under broad pressure after British manufacturing data missed forecasts and reinvigorated concern about the UK economy.

Sterling-priced gold <XAUGBP=R> hit a session peak of 815.33 pounds an ounce, its highest since early July, and was up about 0.4 percent on the day at 815.07 pounds at 0850 GMT. Sterling hit a three-week low against the euro <EURGBP=D4> and pared gains against the dollar <GBP=>.

Gold priced in U.S. dollars <XAU=> also held around two-month highs above $1,250.00 an ounce, benefitting from a desire among investors for an alternative asset as the belief takes hold that the U.S. economy may be at risk of slipping back into recession.

The Markit/Chartered Institute of Purchasing and Supply Manufacturing PMI fell to 54.3 in August -- below all forecasts in a Reuters poll -- from a downwardly revised 56.9 in July. That was the lowest level since November last year although it was still above the 50 mark which separates growth from contraction in activity. [ID:nSLAVJE6BA]

(Reporting by Jan Harvey and Amanda Cooper)