* Gold hovers around $920 an ounce, eyes key US econ data
* SPDR holdings unchanged at record 1,127.44 tonnes
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 $920.40 an ounce as of 0220 GMT, up 0.4
percent from New York's notional close of $917.15 on Tuesday.
Gold has risen more than 4 percent since the end of last
year, but it 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 held 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 yen surged broadly after Bloomberg reported that U.S.
President Barack Obama was prepared to let Chrysler LLC go
bankrupt. []
However, a senior administration official told Reuters that
the report was inaccurate and that the U.S. president's
thoughts on the matter were unchanged from Monday when he
announced restructuring plans. []
Tokyo shares ended the morning up nearly 3 percent,
tracking a rise in Wall Street. []
Prices as of 0230 GMT
Metal Last Change Pct chg YTD pct chg
Turnover
Spot Gold 920.05 2.90 +0.32 4.53
Spot Silver 12.97 0.04 +0.31 14.58
Spot Platinum 1128.00 4.50 +0.40 21.03
Spot Palladium 213.00 -0.50 -0.23 15.45
TOCOM Gold 2943.00 25.00 +0.86 14.38
17630
TOCOM Platinum 3627.00 47.00 +1.31 36.76
7601
TOCOM Silver 410.50 -0.70 -0.17 28.56
122
TOCOM Palladium 697.00 15.00 +2.20 26.73
36
Euro/Dollar 1.3214
Dollar/Yen 98.81
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)
