* Gold up 4 pct in Q1, platinum up 21 pct-Reuters data
* Traders await direction from G20 summit
* Turkey resumes imports of gold in March
(Updates prices, adds detail)
By Jan Harvey
LONDON, April 1 (Reuters) - Gold firmed in Europe on
Wednesday as the dollar slipped from highs against the euro,
supporting the metal's appeal as an alternative asset, while
traders awaited direction from this week's G20 summit in London.
Spot gold <XAU=> was at $926.05/927.55 an ounce at 1151 GMT
from $917.15 late in New York on Tuesday.
"If you look at all the data coming from the euro zone...,
the dollar, and everything that is happening with the G20
meeting, there are a combination of factors helping gold,"
Michael Widmer, an analyst at BNP Paribas, said.
Trading is expected to be relatively muted ahead of
Thursday's meeting of G20 leaders.
World leaders are gathering in London to tackle the global
economic crisis. Data released on Wednesday showed the decline
in European manufacturing activity eased in March, hinting the
worst could be over for euro zone industry. []
"The market is looking for guidance, and if (the G20) can't
provide that, risk aversion will obviously continue and that
will have an impact on gold on the upside," Saxo Bank senior
manager Ole Hansen said.
Traders are also awaiting an interest rate decision from the
European Central Bank on Thursday and Friday's U.S. non-farm
payrolls data for direction.
The dollar, typically a key driver for gold, retreated from
highs against the euro, supporting interest in gold as an
alternative asset to the U.S. currency.
The dollar was steady against the euro as caution ahead of
the G20 summit kept trading subdued. []
Elsewhere, the European Central Bank said it completed the
sale of 35.5 tonnes of gold on Tuesday. However, the news had
little impact on price. []
Turkey also said it had resumed imports of gold in March
after shipping in no bullion in the first two months of the
year. Strong sales of scrap gold within the coutry have eased,
according to dealers. []
DOWNTURN
Platinum group metals were little changed. Spot platinum
<XPT=> was at $1,126.50/1,136.50 an ounce from $1,123.50, while
spot palladium <XPD=> was at $214.50/218.50 an ounce, against
$213.50.
The metals suffered from falling demand from carmakers as
the economic downturn gathered pace, the major buyers of the
metals which are used in the manufacture of autocatalysts.
But platinum, which fell as much as 68 percent towards the
end of last year from its record high of $2,290 an ounce reached
in March, recovered in the first quarter, posting gains of
nearly 21 percent, according to Reuters data.
Precious metals group Heraeus said in a monthly note that
platinum had benefited from speculators' and investors' hopes of
a turnaround in the global economic situation.
"Buyers were relying on the surprisingly good figures
from the U.S. economy -- home sales and durable goods -- as well
as the U.S. government's plan to buy up "toxic assets" worth $1
trillion from the banks," it said.
Platinum specialist Johnson Matthey <JMAT.L> said its
final-quarter sales were down year-on-year because of the weak
automotive market and lower metal prices, in line with its
expectations. []
Spot silver <XAG=> was at $13.02/13.09 an ounce against
$12.93 late in New York on Tuesday, taking direction from gold.
Silver prices rose 14 percent in the first quarter.
(Editing by Keiron Henderson and Sue Thomas)
