Gold ends lower after 1-mth high on profit-taking

By Frank Tang and Lewa Pardomuan

NEW YORK/LONDON (Reuters) - Gold ended 1 percent lower in volatile trade on Thursday, as investors booked profits after gold hit its highest level in more than a month above $930.

With crude oil down sharply from a record high, spot gold was at $917.60/918.80 an ounce by New York's last quote at 2:15 p.m. EDT (1815 GMT), down from $928.55/929.75 an ounce late in New York on Wednesday.

In early trading, gold jumped to $935.30, its highest level since April 18, as crude oil roared to an all-time high above $135 a barrel.

But a surprise drop in U.S. jobless claims data boosted the dollar and sparked selling in oil and other commodities. U.S. crude futures ended $2.36 lower at $130.81 a barrel.

Gold remained more than $100 away from the record high of $1,030.80 an ounce hit on March 17, and many analysts were optimistic about the market's upside.

"I think the confidence is back in the market. We broke $900, we broke $930," said Frederic Panizzutti, metals analyst at MKS Finance.

"So definitely we see some potential for higher levels again. The psychological (resistance) is $950, then probably $980 and there is of course the psychological $1,000 level."

U.S. gold futures for June delivery on the COMEX division of the New York Mercantile Exchange settled down $10.30, or 1.1 percent, at $918.30 an ounce. They rose to $933 an ounce on Wednesday, their highest level since April 22.