PRECIOUS-Gold up on weak US data, extends win streak to five

* Price gains limited after cenbank coordination news
* U.S. data raises hopes of more Fed easing
* Spain, Italy debt fears, Greek election boost haven bids
* Volatility in gold elevated on Fed easing speculation
* Coming up: U.S. consumer sentiment on Friday

(Adds central banks' action plan re Greece, paragraph 5,
updates market activity)
By Frank Tang
NEW YORK, June 14 (Reuters) - Gold rose in a seesaw session
o n T hursday, extending its rise to a fifth consecutive day as
weak U.S. economic data and a key weekend vote in Greece
prompted bullion investors to cautiously add bullish bets.
Some safe-haven bids lifted the metal as Spain and Italy,
two large euro zone economies plagued by debt problems, promised
new measures to fix their public finances while soaring
borrowing costs raised new alarms.
Gold also drew support from U.S. data showing that new
claims for jobless benefits rose and consumer prices fell in
May. Those readings are seen opening the door wider for the
Federal Reserve to help an economy that appears to be weakening.

"The data out this morning reignited the possibility of
further U.S. easing, and that's supportive to gold. The market
has been characterized with a lot of volatility due to market
speculations about Federal Reserve monetary easing," said James
Steel, metals analyst at HSBC.
Bullion added slight gains late in the U.S. trading session
after G20 officials told Reuters that central banks from major
economies stand ready to take steps to stabilize financial
markets and prevent a credit squeeze should the outcome of Greek
elections on Sunday cause tumultuous trading.
Spot gold was up 0.5 percent at $1,624.79 an ounce by
3:40 p.m. EDT (1940 GMT).
U.S. COMEX gold futures for August delivery settled
up 20 cents at $1,619.60, with trading volume 40 percent below
its 30-day average, preliminary Reuters data showed.
Spot gold's volatility was magnified as markets positioned
themselves ahead of the election in Greece on Sunday, dealers
said. The vote could lead to Athens' exit from the euro zone and
reverse a 130 billion euro ($164 billion) bailout.

FED EASING HOPES UP, CPI FALLS
Earlier on Thursday, a U.S. government report showed
consumer prices dropped 0.3 percent last month, the sharpest
decline since December 2008. Low inflation is typically bearish
for gold, but it also gives the Fed more room to stimulate the
economy, increasing bullion's investment appeal.

Gold has gained nearly 2 percent so far this week,
underpinned by speculation the Fed would unveil a new
asset-purchase program, known as quantitative easing, after
Wednesday's weak retail and wholesale inflation data.
The metal had rallied as much as 15 percent after the Fed in
January said it would keep interest rates near zero until at
least late 2014. Gold has since tumbled several times, however,
after Fed Chairman Ben Bernanke mentioned no further easing in
his congressional testimonies.
Year to date, gold is up about 3.5 percent.
Kazakhstan's central bank on Wednesday said it planned to
boost the share of gold in its currency reserves, fueling
speculation other emerging-market economies will follow the
Central Asian country's lead due to risks in major currencies
such as the euro and the U.S. dollar.
Among other precious metals, silver was down 1
percent at $28.65 an ounce, while spot platinum rose 2.2
percent to $1,491.74 an ounce and spot palladium gained
2.4 percent to $632.25 an ounce.

3:40 PM EDT LAST/ NET PCT LOW HIGH CURRENT
SETTLE CHNG CHNG VOL
US Gold AUG 1619.60 0.20 0.0 1610.40 1629.00 133,041
US Silver JUL 28.407 -0.534 -1.8 28.150 29.075 40,712
US Plat JUL 1487.60 20.80 1.4 1458.00 1494.80 11,854
US Pall SEP 634.90 11.60 1.9 617.80 639.95 2,467

Gold 1624.79 7.71 0.5 1610.35 1627.39
Silver 28.650 -0.280 -1.0 28.240 29.100
Platinum 1491.74 32.26 2.2 1461.00 1492.24
Palladium 632.25 14.92 2.4 619.95 633.25

TOTAL MARKET VOLUME 30-D ATM VOLATILITY
CURRENT 30D AVG 250D AVG CURRENT CHG
US Gold 139,784 216,279 196,767 25.24 1.98
US Silver 47,009 50,322 53,713 34.04 0.42
US Platinum 14,075 8,686 8,063 18 0.00
US Palladium 2,503 5,685 4,477

($1 = 0.7939 euros)

(Additional reporting Veronica Brown and Jan Harvey in London;
Editing by Dale Hudson, Bob Burgdorfer and Jim Marshall)