* Stocks, dollar pare losses after U.S. retail sales climb
* Rise in CPI may ease concerns about deflation
* Gold's safe haven status lifted by spate of soft U.S. data
(Corrects to show 3-tonne inflow into SPDR gold fund
occurred Wednesday, not Thursday, in para 14)
By Jan Harvey
LONDON, Aug 13 (Reuters) - Gold retreated from the one-month
high it hit in earlier trade as the dollar, European equities
and U.S. stock futures all lifted from lows after U.S. retail
sales and inflation data.
It remained supported by overall jitters over the outlook
for the global economy, however, as investors spooked by
disappointing U.S. economic data turned to the metal as a safe
store of value.
Spot gold <XAU=> was bid at $1,213.10 an ounce at 1306 GMT,
against $1,211.20 late in New York on Thursday. Earlier it rose
as high as $1,217.35. U.S. gold futures for December delivery
<GCZ0> eased $1.10 to $1,215.60.
Gold is on track to post its first consecutive two weeks of
gains since late June, lifted by weak economic data from the
United States, with a soft payrolls reading last Friday followed
by weak jobless numbers on Thursday.
It remains within the relatively narrow range it has kept to
for most of the summer, however, and will need fresh impetus to
break this pattern, analysts said.
"A weak non-farm payrolls print is not likely to give us a
sustainable 3-4 weeks of strong inflows into gold," said RBS
analyst Daniel Major. "(But) a further serious deterioration in
data could lead the market to price in more levels of
quantitative easing."
"I think you need more of a risk shock to stimulate a very
strong inflow into gold that is likely to push prices back
through $1,250 again."
He sees gold in the $1,150-1,225 range until significant new
risk aversion enters the market.
U.S. stock futures and European shares pared losses on
Friday after data showed retail sales rose in July, but the
concentration of gains in auto and gas station sales suggested
the momentum in consumer spending remained tame. [] []
The euro <EUR=> also edged lower against the dollar,
reversing earlier gains made after strong German growth data
earlier in the session. []
A government report showed U.S. consumer rose for the first
time in four months in July, helped by higher energy costs. The
data could ease concerns about deflation. []
OIL STEADIES
Oil steadied after earlier rising 1 percent in a technical
rebound after a three-day decline, while base metals also gave
up gains. [] []
Investment demand for physically backed gold exchange-traded
funds picked up.
Holdings of the world's largest, the SPDR Gold Trust <GLD>,
climbed by just under 1 tonne on Thursday after rising more than
3 tonnes a day before, its biggest one-day inflow since June 29.
[]
High prices weighed on jewellery demand in key gold-buying
centres, however, with traders in India reporting a dip in
demand as prices rose. []
"I have some five orders in the $1,210-$1,215 range, most of
my orders are below $1,200," said one Mumbai dealer.
Silver <XAG=> was at $17.97 an ounce versus $18.02. India's
largest importer of bullion, MMTC <MMTC.BO>, said its silver
imports fell more than 44 percent in the year to end March as
high prices hit demand. []
Platinum <XPT=> was at $1,522 an ounce versus $1,525.50 and
palladium <XPD=> at $470.50 against $467.
Gold's price rise means platinum has become increasingly
good value in comparison, with the platinum-gold ratio slipping
to a one-month low of 1.26 on Friday.
(Editing by Sue Thomas)
