Gold fell for a second session out of three on Thursday on higher equities and as the world's biggest gold-backed fund saw its sharpest outflow in nearly four months. Bullion fell nearly 2 percent on Tuesday to its lowest in 1-1/2 weeks on technical selling and fears over slowing demand in top consumer China, but steadied just above the $1,300 an ounce in the previous session. By 0710 GMT, spot gold had slipped 0.3 percent to $1,298.56 an ounce. Silver was also lower by 0.2 percent.