PRECIOUS-Gold edges lower on stronger dollar, stocks

SINGAPORE, May 24 (Reuters) - Gold edged lower on Friday as the dollar and equities regained momentum after a volatile trading session the day before, and as holdings in bullion-backed exchange-traded funds fell to fresh four-year lows. FUNDAMENTALS * Spot gold fell 0.17 percent to $1,388.36 an ounce by 0030 GMT, not far off two-year lows of $1,321.35 seen in mid-April. * U.S. gold fell 0.31 percent to $1,387.5. * Gold rose as much as 2 percent to $1,397.35 on Thursday as investors sought its safe-haven status after the dollar and equity markets were hit by factory data from China and the United States that showed the pace of manufacturing had slowed. * Concerns over the timing of a wind-down in the U.S. stimulus programme also lingered even as Federal Reserve Chairman Ben Bernanke said the economy had to show more signs of progress before monetary easing could be halted. * SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.15 percent to four-year lows of 1018.57 tonnes on Thursday. * For the top stories on metals and other news, click , or MARKET NEWS * Japan's Nikkei share average regained ground on Friday after a 7.3-percent dive in the previous session, its biggest one-day percentage drop in two years after weak Chinese factory data spooked investors. * The dollar index rose 0.16 percent to 83.93. DATA/EVENTS (GMT) 0600 Germany Detailed Q1 GDP 0600 Germany GfK consumer confidence 0645 France Business climate 0800 Germany Ifo business climate 0800 Italy Consumer confidence 1230 U.S. Durable goods orders Precious metals prices 0030 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1388.36 -2.34 -0.17 -17.09 Spot Silver 22.52 -0.04 -0.18 -25.63 Spot Platinum 1457.99 -0.62 -0.04 -5.02 Spot Palladium 734.22 -0.21 -0.03 6.10 COMEX GOLD JUN3 1387.50 -4.30 -0.31 -17.20 2548 COMEX SILVER JUL3 22.49 -0.02 -0.10 -25.62 376 Euro/Dollar 1.2910 Dollar/Yen 102.42 COMEX gold and silver contracts show the most active months (Reporting by A. Ananthalakshmi; Editing by Richard Pullin)