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

NEW YORK, July 31 (Reuters) - New York gold futureslaunched a brief rally on Friday after the dollar gave up newground to the euro when the U.S. second quarter GDP report andChicago 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 YorkMercantile 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 thedollar, rising above $1.42 amid broad-based weakness in theU.S. currency. [USD/]

 * The dollar fell across the board, pressured by month-endflows 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 theeconomy contracted by less than forecast. [ID:nCAT002767]

 * The Institute for Supply Management-Chicago said onFriday its index of Midwest business activity rose in July to43.4 from 39.9 in June. [ID:nNAT007035]

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

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

 * Spot gold XAU= advances to $952 an ounce from $933.20an 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 0.63percent, at $13.57 an ounce.

 * Inside range reached a two-day peak at $13.67 from a lowof $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 comparedwith $13.45 an ounce in Thursday's late quote.

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

 PLATINUM

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

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

 PALLADIUM

 * September palladium PAU9 slipped $0.60 to $258.75 anounce.

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









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