NEW YORK, July 24 (Reuters) - New York gold futures ended slightly lower Friday on technical selling, and a new U.S. silver trust should continue to stir investment demand in precious metals. For the latest detailed report, click on [GOL/]. GOLD * August GCQ9 settled down $1.70 at $953.10 an ounce on the COMEX division of the New York Mercantile Exchange. * Traded between $946.60 and $954.40. * Pre-weekend position-squaring weighed down on gold, after bullion closed higher on a sharp Wall Street rally amid economic optimism in the previous session. [ID:nN23387481] * New U.S. silver trust, which is also an exchange-traded product (ETP), could boost investment demand for precious metals across the board - traders. * On Friday, ETFS Silver Trust SIVR, the U.S. unit of London-based ETF Securities, on Friday launched shares backed by physical silver bullion on the New York Stock Exchange. [ID:nLN674579] * Hopes of economic recovery still underpin gold rally. Earlier this year, gold prices were pressured by deflation fears amid a possible prolonged global recession - traders. * Further gains of gold futures capped by band of heavy technical resistance above $955 an ounce - analysts. * COMEX estimated final volume at a quiet 93,951 lots. * Gold/oil ratio 14.02, against 14.12 in the previous session. * Spot gold XAU= traded at $951.05 at 2:51 p.m. EDT (1851 GMT) against $947.15 in its previous session finish. * London gold fix XAUFIX= at $951.50 an ounce. SILVER * September SIU9 finished up 10.5 cents at $13.875 an ounce as a new U.S. silver ETP boosted investor interest. * Ranged from $13.655 to $13.890. * ETFS Silver Trust (SIVR.P: Quote, Profile, Research) is expected to hold assets of more than $1 billion over the next six to 12 months, said William Rhind, head of sales and marketing for the company's U.S. division. [ID:nN24477095] * The U.S. silver trust has created a buzz in the precious metals sector because ETF Securities had also in April filed to launch the first-ever U.S. platinum exchange-traded fund, which could be a boost to the price of platinum if it clears regulatory hurdle. * COMEX estimated final volume at 12,887 lots. * Spot silver XAG= $13.84 compared with its prior close of $13.70. * London silver fix XAGFIX= at $13.78 an ounce. PLATINUM * October PLV9 ended up $3.40 at $1,191.40 an ounce as the market focused on better platinum autocatalyst demand on hopes that the auto production would rebound. * Spot platinum XPT= at $1,185 against its $1,174 previous session's close. PALLADIUM * September PAU9 closed up $1.25 at $261.45 an ounce, tracking platinum's gains. * Spot palladium XPD= was at $257.50 compared with $255.50 in its previous finish. (Reporting by Frank Tang; Editing by Marguerita Choy)

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