* Equities slip, dollar recovers vs euro after U.S. data
* Miners strike at Implats' South African facility
* ETFS Physical Gold sees biggest ever 1-day inflow
(Updates prices, adds detail)
By Jan Harvey
LONDON, Aug 26 (Reuters) - Gold eased on Wednesday, giving
up earlier gains, as the dollar recovered losses against the
euro after U.S. durable goods data failed to impress, tempering
appetite for the metal as an alternative asset.
But prices remained rangebound as traders awaited clearer
direction from the currency markets.
Spot gold <XAU=> was bid at $941.80 an ounce at 1523 GMT,
against $943.55 an ounce late in New York on Tuesday. Earlier it
rose as high as $949.85.
U.S. gold futures for December delivery <GCZ9> on the COMEX
division of the New York Mercantile Exchange were down $1.8 at
$944.20 an ounce.
"We are probably going to stay fairly rangebound," said
Standard Bank analyst Walter de Wet. "We would have to see some
decent dollar weakness for gold to move above $956-960."
The dollar rose versus the euro and a currency basket,
reversing early losses, after durable goods numbers from the
United States. []
The data showed June orders for durable goods, excluding
transportation, rose less than forecast despite overall orders
posting their largest advance since July 2007. []
The report, however, was tempered by data showing a jump in
U.S. new home sales last month that fuelled some selling in the
dollar versus the euro. []
U.S. stocks advanced after they July new home sales data,
while European stocks gave up early gains to fall by early
afternoon. [] []
Demand from buyers of physical bullion remained sluggish as
buyers awaited further price falls.
"Physical demand has dried up, but we are expecting more
buying around $930-925," said Commerzbank senior trader Michael
Kempinski.
The world's largest exchange-traded fund, the SPDR Gold
Trust <GLD>, said its holdings fell another 4.58 tonnes on
Tuesday, bringing its total outflow to 21.4 tonnes in the last
four weeks. []
LONDON ETF HOLDINGS RISE
But London-based ETF Securities said it saw the biggest ever
one-day inflow into its ETF Physical Gold <PHAU.L> product on
Aug. 25. Its holdings rose 211,500 ounces to 3.190 million
ounces on Tuesday. []
On the supply side, the Russian Gold Industrialists' Union
reported a 21 percent rise in gold output from Russia, the
world's fifth largest producer of the yellow metal, in the first
seven months of the year. []
Platinum <XPT=> received an early fillip from a strike at
Impala Platinum's <IMPJ.J> Rustenberg mine in South Africa,
where workers rejected the company's latest pay offer on
Wednesday. []
Prices rose as high as $1,249.50, but later eased to $1,233
an ounce from $1,239 as investors took profits. "The price of
platinum reacted only marginally to the news," said Commerzbank
in a note.
An Implats spokesman said more than 20,000 workers were
involved in the strike, ignoring a weekend call from the
National Union of Mineworkers to suspend the action.
Separately, Aquarius Platinum <AQPJ.J> said contract workers
at its Kroondal and Marikana operations in South Africa had
launched a strike. []
Palladium <XPD=> was at $283 against $286. Silver <XAG=> was
at $14.24 an ounce against $14.24.
(Reporting by Jan Harvey; Editing by Sue Thomas)
