US gold falls 1 pct, below $950/oz as dollar rises

NEW YORK, June 8 (Reuters) - Gold futures ended lower on
Monday and briefly traded below $950 an ounce as the dollar
rose sharply for a second straight session amid signs of an
economic recovery, decreasing the appeal of bullion as a hedge
against the weakening U.S. currency.

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

GOLD

* August GCQ9 settled down $10.10, or 1.1 percent, at
$952.50 an ounce on the COMEX division of the New York
Mercantile Exchange.

* Ranged from $961.10 to $943.80, which marked a two-week
low and the weakest price since May 26.

* Gold pummeled by sharp rise of the dollar against the
euro, as a sovereign downgrade for Ireland helped the U.S.
currency add to gains booked last week on better-than-expected
jobs data. [USD/]

* The gold market looked overdone with the fact that
everybody was trying to pick $1,000 last week but it never
materialized - Bruce Dunn, vice president of trading at New
Jersey-based Auramet Trading.

* Rising Treasury yield and comments from a Federal Reserve
president on vigilance against inflation weighed on
noninterest-bearing gold - James Steel, chief commodities
analyst at HSBC.

* A stronger dollar prompted commodity funds to sell across
the board - traders.

* SPDR Gold Trust, the world's largest gold-backed
exchange-traded fund, said its bullion holdings dropped 0.35
tonne to 1,132.15 tonnes as of June 5. [ID:nT202169]

* COMEX estimated final volume at 92,020 lots.

* COMEX open interest down 9,739 at 391,960 lots as of June
5, amid a sharp drop in prices on Friday.

* Gold/oil ratio at 13.86, lower than the 13.95 of the
previous session.

* Spot gold XAU= traded at $950.30 at 3:12 p.m. EDT (2012
GMT), down 0.5 percent from its late Friday quote in New York.

* London gold fix XAUFIX= at $943.75 an ounce.

SILVER

* July SIN9 ended down 43.3 cents, or 2.8 percent, at
$14.955 an ounce, tracking gold's sharp decline.

* Ranged from $14.735 to $15.460.

* COMEX estimated final volume at 33,724 lots.

* Spot silver XAG= was at $14.90 an ounce, down 2.2
percent from its previous finish.

* London silver fix XAGFIX= at $14.840 an ounce.

PLATINUM

* July PLN9 finished down $42.20, or 3.3 percent, at
$1,244.00 an ounce due to stronger dollar.

* Platinum prices affected by an uncertain auto industry,
as the global car industry accounts for 60 percent of total
platinum demand for use in automobile catalytic converters.

* Recent trade figures underline the belief that
inventories of platinum are low, if not minimal, in the auto
industry - Societe Generale.

* Spot platinum XPT= at $1,235.50 an ounce, down 2.1
percent from its late Friday quote.

PALLADIUM

* September PAU9 closed down $7.80, or 3 percent, at $252
an ounce, weighed down by platinum's weakness.

* Underlying concerns over the level of Russian stockpiles
and optimism over a recovery in auto demand, however, should
support palladium prices - HSBC.

* Spot palladium XPD= was at $247.50 an ounce, down 2.2
percent from its previous finish.
(Reporting by Frank Tang; editing by Jim Marshall)