* Markets await U.S. GDP, jobs data * U.S. Treasury yields at two-week low * Surprise downside to economic data would be supportive -analyst (Adds comments, updates prices) By Arundhati Sarkar May 26 (Reuters) - Gold topped $1,900 for the first time since January on Wednesday, drawing support after U.S. Federal Reserve officials reiterated their dovish stance. Spot gold rose 0.7% to $1,911.56 per ounce by 1233 GMT, after hitting its highest since Jan. 8 at $1,911.95. U.S. gold futures gained 0.8% to $1,912.30. Apart from the recent weakness in U.S. Treasury yields, factors including dovish Fed commentary to calm speculation about tightening policy has attracted flows into gold, said Xiao Fu, head of commodities markets strategy at Bank of China International. Gold seems to be underpinned around $1,900 as the dollar has been quite weak recently and could provide some safe haven demand for gold, Fu added. The dollar index steadied, but was still near its lowest in about 4-1/2 months, making gold cheaper for holders of other currencies. U.S. 10-year Treasury yields were also near a two-week low. Fed vice chair Richard Clarida on Tuesday said the U.S. central bank could curb an outbreak of inflation should it occur without throwing the recovery off track. Any surprise to the downside from economic data would also be gold supportive, BOCI's Fu said. Lower interest rates decrease the opportunity cost of holding non-yielding gold, also considered a hedge against inflation that could result from widespread stimulus measures. U.S. gross domestic product, jobless claims and consumer spending data is due this week. Further, if a number of central banks continue to buy gold in the next few months, bullion will have regained an important demand component, Commerzbank analyst Daniel Briesemann said in a note. "Coupled with the higher consumer demand that is expected and reviving investment demand, we believe this should lend buoyancy to the gold price," Briesemann added. Elsewhere, palladium rose 0.3% to $2,779.67 per ounce, silver climbed 0.8% to $28.19 and platinum jumped 1.6% to $1,211.02. (Reporting by Arundhati Sarkar and Nishara Karuvalli Pathikkal in Bengaluru; editing by Kirsten Donovan and Jason Neely)
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