* Strong investment, ETF demand boost bullion prices
* Traders await direction from G20 summit
* Gold up 4 pct in Q1, platinum up 21 pct-Reuters data
(Recasts, updates with quotes, closing prices, adds second
byline, dateline, previously LONDON)
By Frank Tang and Jan Harvey
NEW YORK/LONDON, April 1 (Reuters) - Gold ended up after a
mixed session on Wednesday on strong investment demand, in
spite of poor bullion demand by top consumer India and after
the European Central Bank completed a gold sale.
Spot gold <XAU=> was at $926.35 an ounce at 2:37 p.m. EDT
(1837 GMT), up 1.0 percent from its last quote $917.15 in New
York on Tuesday.
U.S. gold futures for June delivery <GCM9> settled up $2.70
at $927.70 an ounce on the COMEX division of the New York
Mercantile Exchange.
Investors were focused on the G20 summit in London.
"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.
India imported no gold for the second month in a row in
March as high prices dented consumer demand in the world's
biggest consumer for the metal. []
Turkey 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 country have eased,
according to dealers. []
"A recession is not good for gold demand on the jewelry
side, however, what the governments do in response to recession
is very positive for gold on the investment side," said Mark
Johnson, fund manager at USAA, who manages fund assets worth
more than $900 million.
Traders are also awaiting an interest rate decision from
the European Central Bank on Thursday and Friday's U.S. nonfarm
payrolls data for direction.
Bullion ended the first quarter up 4 percent, boosted by
fears that measures to stimulate the global economy would lead
to inflation, against which gold is bought as a hedge.
Buying of gold and precious metal-backed exchange-traded
funds was particularly strong in the first quarter as investors
sought the safety of physical assets. []
The European Central Bank said it completed the sale of
35.5 tonnes of gold on Tuesday. The news had little impact on
price. []
Platinum group metals were higher. Spot platinum <XPT=> at
$1,132.50 an ounce, up 0.8 percent from its previous close
$1,123.50, while spot palladium <XPD=> was at $217.00 an ounce,
up 1.6 percent from its previous finish of $213.50.
The metals suffered from falling demand from carmakers, the
major buyers of the metals which are used in the manufacture of
autocatalysts.
But platinum recovered in the first quarter from a steep
fall late last year, posting gains of nearly 21 percent,
according to Reuters data. The metal fell as much as 68 percent
toward the end of last year from its record high of $2,290 an
ounce reached in March, 2008.
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.
Spot silver <XAG=> was at $12.99 an ounce, up 0.5 percent
from its previous finish $12.93 late in New York on Tuesday.
(Editing by David Gregorio)
