NEW YORK, Sept 1 (Reuters) - U.S. gold futures turned higher on Tuesday as better economic indicators bolstered the metal's status as a hedge against inflation, offsetting news of lackluster physical demand. For the latest detailed report, click on [GOL/]. GOLD * December gold GCZ9 up $2.70 at $956.20 an ounce at 10:12 a.m. EDT (1412 GMT) on the COMEX division of the New York Mercantile Exchange. * Ranging from $947.50 to $958. * December contract was in directionless trade earlier in the session, but turned higher following positive U.S. housing and manufacturing data - traders. * Pending sales of previously owned U.S. homes raced to a two-year high in July, according to a trade group, giving more evidence that a recovery in the housing market was under way. [ID:nN01483755] * Gold has been asserting its positive link with the equities markets, as signs of economic recovery increased bullion's appeal as a hedge against inflation. * Futures rose in spite of news that global gold jewelry demand fell sharply due to higher price of gold and a recession - traders. * India's gold imports in August provisionally slumped to between 12 to 14 tonnes from 98 tonnes in the same month last year as high prices and weak monsoon rains dented demand - The Bombay Bullion Association. * Turkey's gold imports fell 74 percent in August to 12.517 tonnes from the same month last year, as demand remained weak in the local market - Istanbul Gold Exchange data. [ID:nL1695562] * COMEX estimated 10 a.m. volume at 46,722 lots. * U.S. crude futures rebounded $1 to above $70 per barrel. Investors view crude oil as a barometer of economic growth. * Gold/oil ratio at 13.45, down from the previous session's 13.54. * Spot gold XAU= at $954.20 an ounce, against $949.65 in late Monday dealings in New York. SILVER * December silver SIZ9 up 3.2 cents at $14.955 an ounce on the back of gold and other base metals' gains. * Silver futures have recently outperformed gold, helped by better economic sentiment. Usually less-liquid silver has the characteristics of both precious and industrial metals. * Ranged from $14.655 to $15.035 an ounce -- the highest level since Aug. 14. * COMEX estimated 10 a.m. volume at 12,007 lots. * Spot silver XAG= at $14.92 an ounce, versus its previous close of $14.89. PLATINUM * October platinum PLV9 down $5.40 at $1,238.60 an ounce on follow-through selling from Monday. * Uncertain supply due to labor actions in top platinum producer South Africa provided underlying support. * Spot platinum XPT= at $1,233 an ounce against $1,237. PALLADIUM * December palladium PAZ9 down 55 cents at $292.95 an ounce, tracking platinum's decline. * Spot palladium XPD= at $288.50 an ounce, against its previous finish of $288.50. Prices at 10:13 a.m. EDT (1413 GMT) Last Change Pct 2008 YTD Chg Close % Chg US gold GCZ9 956.40 2.90 0.3 884.30 8.2 US silver SIZ9 14.955 0.032 0.2 11.295 32.4 US platinum PLV9 1240.20 -3.80 -0.3 941.50 31.7 US palladium PAZ9 293.20 -0.30 -0.1 188.70 55.4 Gold XAU= 954.85 5.20 0.5 878.200 8.7 Silver XAG= 14.94 0.05 0.3 11.30 32.2 Platinum XPT= 1231.50 -5.50 -0.4 924.50 33.2 Palladium XPD= 289.00 0.50 0.2 184.50 56.6 Gold Fix XAUFIX= 955.00 -0.50 -0.1 836.50 14.2 Silver Fix XAGFIX= 14.740 0.200 1.4 14.760 -0.1 Platinum Fix XPTFIX= 1244.00 0.00 0.0 1529.00 -18.6 Palladium Fix XPDFIX= 289.00 0.00 0.0 365.00 -20.8 (Reporting by Frank Tang; Editing by Lisa Shumaker)

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