PRECIOUS-Gold extends gains above $900; eyes weak dollar

                                
 SINGAPORE, May 5 (Reuters) - Gold extended gains to trade
above $900 an ounce on Tuesday, having posted its biggest daily
percentage gain in more than a month the previous day, as
weaker dollar and rising oil lured investors back into the
metal.
                                
 FUNDAMENTALS
                                
 * Spot gold <XAU=> was quoted at $903.70 an ounce, up $1.35
from New York's notional close on Monday, when it rallied to
its strongest in nearly a week at $906.60 an ounce -- still
below a  near four-week high of $918.25 last Monday.
                                
 * The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust <GLD>, said holdings stayed at 1,104.45 tonnes
as of May 4 unchanged since April 23. (GOL/SPDR]
                                
 * Platinum <XPT=> was at $1,118.00 an ounce, up $1.00 from
New York's notional close.
                                
 * Japanese markets are closed for Golden Week holidays
until Wednesday.
                                
 * U.S. gold futures for June delivery <GCM9> added $1.3 an
ounce at $903.5 on on the COMEX division of the New York
Mercantile Exchange, having hit a high of $908.30 on Monday --
was the loftiest price since April 27.
                                
 MARKET NEWS
                                
* The dollar lost ground broadly against major currencies on
Tuesday, with its index <.DXY> languishing at five-week lows,
as easing concerns over U.S. banks and hopes the worst in the
global economy may have passed stoked a rally in stocks
<nTOPNEWS> <USD/>
                                
* U.S. crude oil futures hovered well above $54 a barrel on
Tuesday, near their highest settlement so far this year, as
investors bet the economic recession would end soon, paving the
way for a recovery of ailing world energy demand. [O/R]
                                
 * U.S. stocks rallied on Monday, driving the S&P 500 into
positive territory for the year as investors bet banks' capital
shortfalls may be manageable and housing data fueled hopes the
recession is easing. [.N]
                                
 DATA EVENTS
                                
 * Reserve Bank of Australia's rate decision at 0430 GMT
                                
 * U.S. Fed Chairman Ben Bernanke's testimony at 1400 GMT
                                
 * ISM nonmanufacturing index for April at 1400 GMT
                                
 * Swiss Q2 Consumer Confidence at 0545 GMT
                                
 * Eurozone Producer Price Index at 0900 GMT
                                
 * Redbook Weekly U.S. Retail Sales at 1255 GMT
                                
 * The following data is expected on Tuesday: <ECON>
                                
 RELATED NEWS > Global data points to recession easing      
                                
   [nL4731565] > S&P turns positive for '09 on bank hopes,
data    [nN04423262] > US bank stress tests near completion;
talks tense [nN04395186] > Chrysler gets court OK on loan,
seeks Fiat sale   [nN04390200] > Flu-hit Mexico to resume
business, pork row erupts[nN04352304] > Gold premiums at 2-week
high on Indian weddings      [GOL/AS]
                                
 PRICES
  Precious metals prices at 0041 GMT
 Metal         Last      Change  Pct chg  Day ago pct  MA 30
RSI  Spot gold     $903.70    $1.35  +0.15%    +0.75%   $860.10
  57
 Spot silver    $13.04    $0.03  +0.23%    +8.85%     $11.29 
61
 Spot plat    $1118.00    $1.00  +0.09%    +2.76%   $1152.28 
43
 COMEX gold    $904.50   $17.20  +1.94%    +1.84%    $899.88 
55
 Currencies                                               
Euro/dlr       $1.339   $0.016  +1.17%    +1.04%
 Dlr/yen         98.87     2.10  +2.17%    +1.77%
  (Reporting by Lewa Pardomuan; Editing by Kim Coghill)