PRECIOUS-Gold rises as oil extend gains, ETF unchanged

TOKYO, Aug 14 (Reuters) - Gold prices rose closer to $960 an
ounce on Friday as oil extended gains and renewed bullion's
appeal as a hedge against inflation.

FUNDAMENTALS

* Spot gold XAU= was up 0.4 percent at $958.90 per ounce as
of 0019 GMT, compared with New York's notional close of $953.50
per ounce.

* U.S. gold futures for December delivery GCZ9 rose 0.3
percent to $961.2 per ounce, compared with $956.50 an ounce on
the COMEX division of the New York Mercantile Exchange. Gold
futures hit a one-week high of $963.10 on Thursday when signs of
a global economic recovery bolstered the metal's status as a
hedge against inflation.

* The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust (GLD), said holdings stood at 1,065.49 tonnes as
of Aug. 13, unchanged from the previous business day. [GOL/SPDR]

MARKET NEWS

* The Nikkei .N225 was up 0.2 percent on Friday. [.T]

* U.S. stocks rose on Thursday as better-than-expected
earnings by Wal-Mart Stores Inc (WMT.N) helped offset
disappointing government numbers on retail sales and jobs. [.N]

* The euro was steady on Friday after rising against the
dollar for the second straight session the previous day when data
showed the euro zone's two biggest economies unexpectedly
returned to growth in the second quarter of the year. [USD/]

* Oil prices extended gains above $71 a barrel CLc1 on
Friday after rising the day before as reinforced hopes for an
economic recovery pushed up Wall Street stocks. [O/R]

DATA EVENTS

* The following data is expected on Friday: ECON

- Euro zone final HICP for July. (0900 GMT)

- U.S. CPI for July. (1230 GMT)

- U.S. July real earnings. (1230 GMT)

- U.S. July industrial production. (1315 GMT)

- Reuters/University of Michigan surveys of consumer
sentiment for August. (1355 GMT)

- U.S. Economic Cycle Research Institute's weekly index of
economic activity. (1430 GMT)

- Federal Reserve Bank of Cleveland's median consumer price
index for July. (N/A)

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Precious metals prices at 0005
Metal Last Change Pct chg Day ago pct MA 30 RSI
Spot gold $957.50 $4.00 +0.42% +6.74% $860.10 60
Spot silver $15.09 $0.09 +0.60% +25.96% $11.29 76
Spot plat $1267.50 $2.50 +0.20% +33.56% $948.98 67
COMEX gold $958.00 $69.80 +7.86% +6.50% $857.64 55
TOCOM gold 2,946 363 +14.05% +12.92% 2,476 55
TOCOM plat 3,894 1154 +42.12% +40.83% 2,659 63
Currencies
Euro/dlr $1.428 $0.114 +8.68% +8.34%
Dlr/yen 95.32 4.94 +5.47% +7.20%
(Reporting by Chikako Mogi)