NEW YORK, May 29 (Reuters) - U.S. gold futures rose above $980 an ounce on Friday to a fresh three-month high as resurgent risk appetite pummeled the dollar, attracting investment inflows into the bullion market. For the latest detailed report, click on [GOL/]. GOLD * August GCQ9 up $16.40, or 1.7 percent, at $979.60 an ounce at 11:05 a.m. EDT (1505 GMT) on the COMEX division of the New York Mercantile Exchange. * Ranged from $960.40 to $982, which marked the highest price since Feb. 25. * Buying in gold as a hedge against the falling dollar increased after the greenback fell to five-month lows against a basket of currencies .DXY and the euro rose above $1.41. * Evidence of an easing global recession drove investors to snap up higher-yielding currencies and riskier assets, sending the U.S. currency sharply lower. [USD/] * Gold rally supported by the combination of a weaker dollar and a recovery in broad commodities prices - James Steel, chief commodities analyst at HSBC. * Substantial investment inflows into the commodity sector, most prominently in oil, also helped gold - Steel. * Gold futures largely ignored weak physical demand after a trade group from top gold consumer India said gold imports so far in May have been in the range of 10 to 15 tonnes, sharply lower compared with May last year. [ID:nDEL451036] * COMEX estimated 10 a.m. volume at 53,923 lots. * Gold/oil ratio at 14.83, higher than the 14.81 of the previous session. * Spot gold traded at $978.45 an ounce, up 2 percent from its late Thursday quote in New York. * London gold fix $975.50 an ounce. SILVER * Silver futures rose to a fresh nine-month high above $15 an ounce, driven by strong investment buying - traders. * July SIN9 up 40.00 cents, or 2.6 percent, at $15.560 an ounce. * Ranged from $15.145 to $15.650, which marked the highest price since August last year. * Support from COMEX December call options activity and technical buying cited for silver's strength - analysts. * COMEX estimated 10 a.m. volume at 10,621 lots. * Spot silver was at $15.52 an ounce, up 2.7 percent from its previous finish. * London silver fix at $15.52 an ounce. PLATINUM * NYMEX July platinum PLN9 up $28.70, or 2.5 percent, at $1,178.50 an ounce on precious metals' gains amid a broad commodities rally. * Platinum rose in spite of a looming bankruptcy by General Motors Corp (GM.N) after the U.S. auto maker persuaded its major bondholders to accept a sweetened ownership plan. [ID:nSP402834] * The global car industry accounted for 60 percent of total platinum demand as catalytic converters for automobiles. * Spot platinum at $1,172.00 an ounce, up 2.9 percent from its late Thursday quote. PALLADIUM * September palladium PAU9 up 85 cents at $234.35 an ounce, tracking platinum's gains. * Spot palladium was at $231 an ounce, up 2.7 percent from its previous finish. (Reporting by Frank Tang)

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