US gold jumps when dollar falls after U.S. data

NEW YORK, July 31 (Reuters) - New York gold futures
launched a brief rally on Friday after the dollar gave up new
ground to the euro when the U.S. second quarter GDP report and
Chicago manufacturers data came in better than expected,
increasing investor appetite for risk, traders said.

 For the latest detailed report, click on [GOL/].

 GOLD

 * August gold GCQ9 jumped $16.40, or 1.73 percent, to
$941.20 an ounce on the COMEX division of the New York
Mercantile Exchange.

 * Range from $932.0 to $953.60 an ounce.

 * Gold surged as the dollar slipped against the euro -
traders.

 * The euro extended gains by more than 1 percent versus the
dollar, rising above $1.42 amid broad-based weakness in the
U.S. currency. [USD/]

 * The dollar fell across the board, pressured by month-end
flows and following data showing business activity in the U.S.
Midwest improved more than expected in July.

 * Earlier, a second-quarter U.S. GDP report showed the
economy contracted by less than forecast. [ID:nCAT002767]

 * The Institute for Supply Management-Chicago said on
Friday its index of Midwest business activity rose in July to
43.4 from 39.9 in June. [ID:nNAT007035]

 * The initial gold rally sent prices through technical
resistance, triggering automatic buy orders - traders.

 * COMEX estimated 11:00 gold volume at 60,106 lots.

 * Spot gold XAU= advances to $952 an ounce from $933.20
an ounce in late New York business in Thursday.

 * London afternoon gold fix XAUFIX= was set higher at
$939.0 an ounce.

 SILVER

 * September silver SIU9 was up 8.0 cents, or 0.63
percent, at $13.57 an ounce.

 * Inside range reached a two-day peak at $13.67 from a low
of $13.37 an ounce.

 * Silver firmed with gold and other metals - traders.

 * COMEX estimated 1100 a.m. silver volume at 14,876 lots.

 * Spot silver XAG= was higher at $13.64 an ounce compared
with $13.45 an ounce in Thursday's late quote.

 * London silver was fixed XAGFIX= higher at $13.63 an
ounce.

 PLATINUM

 * October platinum PLV9 rose $9.0 to $1,198.0 an ounce.

 * Spot platinum XPT= increased to $1,192 from $1,180.0 an
ounce in late Thursday trade.

 PALLADIUM

 * September palladium PAU9 slipped $0.60 to $258.75 an
ounce.

 * Spot palladium XPD= edged up to $257.50 from $257 an
ounce in late Thursday business.



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