* Gold hovers at $920 an ounce, investors stay on sidelines
* Trading is rangebound ahead of key U.S. econ data
* SPDR holdings unchanged at record 1,127.44 tonnes
(Updates prices, add quote)
By Miho Yoshikawa
TOKYO, April 1 (Reuters) - Gold held firm around $920 on
Wednesday after ending the last quarter up more than 4 percent,
as investors awaited key U.S. economic data to see their impact
on stock and currency markets.
Recent stock market rallies and a strengthening dollar have
undermined sentiment in gold, and analysts say stock and
currency movements are likely to continue to dictate the
metal's direction.
Gold <XAU=> was $919.90 an ounce at 0450 GMT, up 0.3
percent from New York's notional close of $917.15 on Tuesday,
It has so far moved between $916.30 and $921.50, in line
with the previous day's trading ranges.
"Gold is still very much trading within the trading ranges
of the previous day and I guess traders are probably cautious
moving forward and are waiting for key data and figures," said
Adrian Koh, an analyst at Phillip Futures.
Bullion is down about 9 percent from an 11-month high above
$1,000 in February and 11 percent off its record high of
$1030.80 hit last March.
David Moore, a commodity strategist at Commonwealth Bank of
Australia, said there had been not much information during
Asian business hours to drive the market.
"You have some really important U.S. economic data out in
the next couple of days and that's potentially going to move
the U.S. dollar, and therefore the gold price," he said.
U.S. construction spending for February and U.S. automaker
sales data for March will be released on Wednesday, while U.S.
jobless claims are due out on Thursday. <ECON>
Gold prices have fallen below $1,000 marked in February as
investors booked profits, seeing limited upside due to weak
demand for jewellery amid the economic downturn, but have held
generally above $900.
India, the world's largest market for gold, did not import
any for the second month running in March as high prices dented
consumer demand. []
But gold's appeal as a hedge against risk continues to keep
investment in gold-backed securities solid.
The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust <GLD>, said holdings stayed unchanged at a
record 1,127.44 tonnes as of March 31, a level first reached on
March 29. []
For details on the gold holdings of the ETF listed in New
York and co-listed on other exchanges, click on:
http://www.exchangetradedgold.com/iframes/usa.php
Investors use gold as a hedge against financial uncertainty
and inflation, while a higher U.S. currency makes gold priced
in dollars more expensive for holders of other currencies.
The dollar and the yen rose after Bloomberg reported that
U.S. President Barack Obama was prepared to let U.S. automakers
go bankrupt, but retreated from the day's highs after a U.S.
administration official said it was inaccurate. []
Tokyo shares ended the morning up nearly 3 percent,
tracking a rise in Wall Street. []
Prices as of 0455 GMT
Metal Last Change Pct chg YTD pct chg
Turnover
Spot Gold 919.45 2.30 +0.25 4.47
Spot Silver 12.94 0.01 +0.08 14.31
Spot Platinum 1129.00 5.50 +0.49 21.14
Spot Palladium 215.00 1.50 +0.70 16.53
TOCOM Gold 2928.00 10.00 +0.34 13.80
27463
TOCOM Platinum 3615.00 35.00 +0.98 36.31
10200
TOCOM Silver 408.00 -3.20 -0.78 27.78
269
TOCOM Palladium 696.00 14.00 +2.05 26.55
493
Euro/Dollar 1.3204
Dollar/Yen 98.56
TOCOM prices in yen per gram, except silver which is priced
in yen per 10 grams. Spot prices in $ per ounce.
(Additional reporting by Chikako Mogi; Editing by Ben Tan)
