* Dollar surges above 100 yen, rises sharply vs euro * US weekly jobless claims lowest since January 2008 * PGM up ahead of South Africa wage talks, Amplats plan (New updates throughout, adds market details) By Frank Tang and Clara Denina NEW YORK/LONDON, May 9 (Reuters) - Gold fell 1 percent in choppy trade on Thursday as the dollar rose to a four-year high against the yen and rallied against the euro, decreasing bullion's appeal as a hedge against U.S. currency depreciation. After trading slightly lower earlier in the session, bullion accelerated losses after the dollar smashed above the 100 yen mark and jumped 1 percent against the euro. The resurgent dollar also weighed down on equities and other industrial commodities such as crude and copper. Bullion investor sentiment remains lackluster as outflows in gold-backed exchange-traded funds showing no signs of abating. "There was heavy put activity, which is usually a bearish sign," said Frank McGhee, head precious metals trader at Integrated Brokerage Services LLC. Spot gold was down 0.9 percent to $1,458.50 by 3:34 p.m. EDT (1934 GMT). Some investors took profits after bullion posted a 1.4 percent gain in the previous session, its biggest one-day rise in two weeks. U.S. Comex gold for June delivery settled down $5.10 to $1,468.60 an ounce, with trading volume on track to finish in line with its 30-day average, preliminary Reuters data showed. Gold was under pressure earlier in the session after data showed the number of Americans filing new claims for jobless aid fell last week to its lowest level in nearly 5-1/2 years, reducing the need for more economic stimulus from the Federal Reserve. Holdings of SPDR Gold Trust, the world's largest gold-backed ETF, fell 0.60 percent to 1,051.47 tonnes on Wednesday from 1,057.79 tonnes on Tuesday, the lowest level since March 2009. Gold prices have recovered more than half of their losses after a sharp selloff sent the metal to a two-year low of $1,321.35 on April 16. However, hopes of surging demand from China in coming months, after net gold inflows from Hong Kong hit a record in March, might further support bullion prices, which have been hurt by sagging investor confidence this year, analysts said. Silver fell 0.7 percent to $23.73 an ounce. Reflecting continued retail investment buying of silver, the U.S. Mint will limit dealers' purchases of its "America the Beautiful" five-ounce silver bullion coins when they go on sale next week. PLATINUM GROUP METALS HIGHER Platinum group metals rose on buying ahead of major wage talks between South Africa's major mining unions and PGM producers. A plan by the world's No. 1 platinum producer Anglo American Platinum (Amplats) to reveal its revised restructuring plan on Friday also boosted demand, analysts said. Gold's outlook remains uncertain with outflows in gold-backed exchange-traded funds showing no signs of abating. Palladium rose 2 percent to $705.75, and platinum rose 0.2 percent to $1,502.49 an ounce. 3:34 PM EDT LAST/ NET PCT LOW HIGH CURRENT SETTLE CHNG CHNG VOL US Gold JUN 1468.60 -5.10 -0.3 1452.10 1476.00 149,789 US Silver JUL 23.911 -0.016 -0.1 23.520 24.170 34,165 US Plat JUL 1516.50 11.60 0.8 1498.70 1519.00 8,606 US Pall JUN 714.75 16.50 2.4 691.00 716.90 5,002 Gold 1458.50 -13.69 -0.9 1453.95 1475.51 Silver 23.730 -0.160 -0.7 23.580 24.170 Platinum 1502.49 2.49 0.2 1501.50 1516.00 Palladium 705.75 13.75 2.0 693.75 713.97 TOTAL MARKET VOLUME 30-D ATM VOLATILITY CURRENT 30D AVG 250D AVG CURRENT CHG US Gold 205,076 219,740 178,227 19.66 -0.55 US Silver 41,341 79,320 55,051 27.62 -0.33 US Platinum 8,678 12,520 11,840 19.59 -0.09 US Palladium 5,617 5,278 5,036 (Additional reporting by Lewa Pardomuan in Singapore; editing by James Jukwey, Jane Baird, Bob Burgdorfer and Nick Zieminski)
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