U.S. gold futures edged up on Thursday, trading in a narrow range as the market whipsawed between lagging investment demand and long-term inflation expectations. For the latest detailed report, click on [GOL/]. GOLD * Gold for June delivery GCM9 inched up 80 cents at $926.70 an ounce at 10:53 a.m. EDT (1453 GMT) on the COMEX division of the New York Mercantile Exchange. * A range of less than $10, from $920.50 to $928.20. * Recovery in stock markets and a nearly unchanged dollar led to slight gains in gold futures - traders. * SPDR Gold Trust, the world's largest gold-backed exchange-traded fund commonly referred to as GLD (GLD.P), saw its holdings up 1.53 tonne to 1,105.62 tonnes as of May 13, confirming market talk about ETF buying on Wednesday. * ETF investment demand in gold, however, remained largely stale following rapid acceleration earlier in the year when global equities plummeted. * June futures could potentially test $970 regardless of fundamentals on signs that investment in commodities is reaching a "fever-pitch" - Tom Pawlicki, precious metals and energy analyst at MF Global. * Recent gold price represents a bargain because rising inflation expectations could spur sharply higher investor demand for the metal - Jeffrey Nichols, managing director of American Precious Metals Advisors. * News of lower supply provided underlying support after top gold producer South Africa said its gold output fell 7.6 percent in volume terms - official data. * Gold/oil ratio at 16.19, higher than the 16.05 of its previous session. * COMEX estimated 10 a.m. volume at a quiet 43,886 lots. * Spot gold traded at $925.40 an ounce, down just a tad from its late Wednesday quote in New York. * London gold fix $925.25 an ounce. SILVER * COMEX July silver SIN9 eased 7.50 cents to $13.945 an ounce on light profit taking. * Ranged from $13.71 to $14.00. * Global silver fabrication demand in 2008 fell about 1 percent year-on-year to 832.6 million ounces due to a drop-off in industrial production amid downturn - industry report compiled by GFMS. [ID:nN12646571] * COMEX estimated 10 a.m. volume at 7,838 lots. * Spot silver was at $13.90 an ounce, down 0.3 percent from its previous finish. * London silver fix at $13.840 an ounce. PLATINUM * NYMEX July platinum PLN9 down $12.10, or 1.1 percent, at $1,111.10 an ounce as gloomy outlook for the auto sector dampened demand for platinum group metals as catalytic converter. * Spot platinum at $1,102.50 an ounce, down 0.8 percent from its late Wednesday quote. PALLADIUM * June palladium PAM9 down $2.10 at $224.65 an ounce, tracking platinum's weakness * Spot palladium was at $222.00 an ounce, up 0.7 percent from its previous finish. (Reporting by Frank Tang)

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