US gold rises on dollar drop, weak housing data

NEW YORK, May 19 (Reuters) - New York gold futures rose on
Tuesday after the previous session's losses on a lower dollar
and as unexpectedly weaker U.S. housing data boosted bullion's
alternative investment appeal.

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

GOLD

* Gold for June delivery GCM9 up $5.40 at $927.10 an
ounce at 10:29 a.m. EDT (1429 GMT) on the COMEX division of the
New York Mercantile Exchange.

* Ranged from $917.60 to $928.20.

* Gold turned higher after data showed new U.S. housing
starts and permits unexpectedly fell to record lows in April,
denting hopes that stability in the housing market was
imminent. [ID:nN19408037]

* Longer-term inflation worries will continue to shape
demand for gold in the investors' space, after U.S. and Europe
consumer prices data showed a slight rebound in prices - BNP
Paribas.

* Safe-haven demand could diminish as a closely watched VIX
index .VIX fell below 30 for the first time in eight months,
indicating the perceived need for portfolio insurance is
diminishing. [ID:nN19417474]

* Mitsui Global Precious Metals raised forecast for gold
prices to average $920 an ounce this year, up from a previous
forecast of $906, saying it is "medium term bullish, but short
term wary" towards the yellow metal. [ID:nLJ507882]

* A German asset management company plans to set up 500
"Gold-To-Go" automatic teller machines (ATMs) in Germany,
Switzerland and Austria this year. [ID:nLJ422294]

* Gold/oil ratio at 15.66, higher than the 15.59 of its
previous session.

* COMEX estimated 10 a.m. volume at 49,168 lots.

* Spot gold XAU= traded at $925.80 an ounce, up 0.9
percent from its late Monday quote in New York.

* London gold fix XAUFIX= $924.75 an ounce.

SILVER

* COMEX July silver SIN9 up 24.00 cents, or 1.7 percent,
at $13.070 an ounce, as the less liquid white metal took
direction from the gold market.

* Ranged from $13.73 to $14.08.

* COMEX estimated final volume at 5,845 lots.

* Spot silver XAG= was at $14.04 an ounce, up 2.3 percent
from its previous finish.

* London silver fix XAGFIX= at $13.88 an ounce.

PLATINUM

* NYMEX July platinum PLN9 up $4.40 at $1,142.00 an ounce
on better overall economic sentiment.

* Global demand from automakers for platinum catalytic
converters dropped more than 8 percent to 3.81 million ounces
in 2008, as North American vehicle output tumbled amid the
economic slowdown - Johnson Matthey. [ID:nN15560493]

* An anticipated bankruptcy filing by General Motors Corp
(GM.N) by the end of May should not drastically dent platinum
autocatalyst demand, unless the car industry slashes production
further from its current dismal level - analysts
[ID:nN18382606]

* Spot platinum XPT= at $1,133 an ounce, up 0.4 percent
from its late Friday quote.

PALLADIUM

* June palladium PAM9 up $3.50, or 1.5 percent, at
$233.50 an ounce, tracking platinum's gains.

* Spot palladium XPD= was at $230.00 an ounce, up 1.6
percent from its previous finish.
(Reporting by Frank Tang)