New York gold futures rose for a second day on Tuesday as positive U.S. economic data and inflation concerns revived fund interest, but increasing risk appetite amid better stock markets could dent safe-haven demand. For the latest detailed report, click on [GOL/]. GOLD * Gold for June delivery GCM9 was up $4.50 at $906.70 an ounce at 10:51 a.m. EDT (1551 GMT) on the COMEX division of the New York Mercantile Exchange. * Ranged from $901.10 to $916.70. * A spate of positive U.S. data showed the economy could recover faster than expected, rekindling inflation worries and supporting gold - traders. * Recent data showed pending sales of previously owned homes rose for a second straight month in March, while construction spending edged higher, suggesting a moderation in the housing slump. * Renewed fund interest apparent, given possible uptick in inflation, amid higher gold futures open interest, closing prices and trading volume - George Gero, vice president of RBC Capital Markets Global Futures. * Gold rally is not expected to last very long, however, because of pressure from higher risk appetite and a lack of clear evidence that inflation is climbing - Tom Pawlicki, precious metals and energy analyst at MF Global. * Gold mining stocks, measured by the Gold Bugs index , cut initial gains but remained higher following Monday's sharp equities rally. * Gold futures largely ignored news that Russian gold output rose by 42 percent to 31.39 tonnes in the first quarter from a year ago mainly due to increased gold processing capacity - Russia's main industry lobby. [ID:nL5956426] * Gold/oil ratio inched up to 16.86 from 16.52 the previous session. * Spot gold traded at $908.35 an ounce, up 0.7 percent from its late Monday quote in New York. * The London afternoon gold fix was $910.00 an ounce. SILVER * COMEX July silver SIN9 rose 35.20 cents, or 2.7 percent, to $13.465 an ounce, as less liquid silver outperformed gold on the back of a broad precious metals rally. * Ranged from $12.995 to $13.615. * Spot silver was at $13.50 an ounce, up 3.8 percent from its previous finish. * The London silver fix at $13.110 an ounce. PLATINUM * NYMEX July platinum PLN9 climbed $15.50, or 1.4 percent, to $1,137.50 an ounce as a brighter economic outlook should boost autocatalyst demand. * A bankruptcy filing by General Motors or Ford would take a bigger toll on platinum autocatalyst demand than the Chrysler filing because of their bigger size - analysts. * Platinum and palladium are used to clean exhaust fumes from vehicles. * Spot platinum at $1,129.50 an ounce, up 1.1 percent from its late Monday quote. PALLADIUM * June palladium PAM9 tracked platinum to rise 10 cents to $222.40 an ounce. * Spot palladium was at $218.50 an ounce, up 0.2 percent from its previous finish.

Source