* Gold rises 1 pct, sentiment still weak
* Target of $1,395 temporarily aborted
* Coming Up: ICSC weekly chain store sales; 1145 GMT
(Updates prices, adds quotes)
By A. Ananthalakshmi
SINGAPORE, May 14 (Reuters) - Gold rose on Tuesday for the
first time in four sessions, aided by a softer dollar, but
persistent outflows from exchange-traded funds reflected
investors' waning interest in the metal as a safe haven.
A surprise rise in U.S. retail sales in April strengthened
the view that the U.S. economy remains resilient, damping
speculation the Federal Reserve will extend its bullion-friendly
Gold hit a high of $1,444.96 an ounce and stood at
$1,440.66 by 0419 GMT, up $10.61. The precious metal, which has
fallen about 14 percent this year, slipped more than 1 percent
to a low around $1,425 on Monday, near Friday's two-week trough.
"Stocks are looking more attractive for investors. Gold will
continue in the downward trend. It might test $1,400," said
Brian Lan, managing director of GoldSilver Central Pte Ltd in
"I don't see any data that could possibly push gold prices
Gold has recovered about $120 since a sell-off in April
dragged prices to two-year lows, but it is still well below last
month's peak of around $1,600, as investors shifted into
equities and cut exposure to bullion.
The holdings of SPDR Gold Trust, the world's largest
gold-backed exchange-traded fund, stood at 33.811 million
ounces, just off their lowest level since March 2009.
U.S. gold futures for June delivery were at
$1,439.60 an ounce, up $5.30.
Shares in Asia snapped a two-day losing streak and rose on
Tuesday as a surprising increase in U.S. retail sales boosted
sentiment, but the dollar took a breather after gaining broadly
on growing optimism over a recovery in the world's largest
Cash and U.S. gold futures sank to around $1,321 on April 16
after worries about central bank sales and a drop below $1,500
led to a sell-off that stunned ardent gold investors and bulls.
The fall spurred a surge in physical buying in Asia and
elsewhere, helping to pluck prices off lows, but physical demand
for some gold products began to subside.
"While gold coin sales have been brisk, undoubtedly helping
the recent recovery, we have to suspect that the
'bargain-buying' off the lows has decelerated somewhat after the
initial spurt," said Edward Meir, a metals analyst at futures
brokerage INTL FCStone.
"And we suspect it will continue to do so, particularly if
prices start to wobble once again."
Silver and platinum tracked gold higher, but
China's demand for platinum jewellery jumped 16 percent to
near record levels in 2012 as lower prices drew buyers, Johnson
Precious metals prices 0419 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1440.66 10.61 +0.74 -13.97
Spot Silver 23.70 0.10 +0.42 -21.73
Spot Platinum 1483.74 7.74 +0.52 -3.34
Spot Palladium 713.97 -0.81 -0.11 3.17
COMEX GOLD JUN3 1439.60 5.30 +0.37 -14.09 15141
COMEX SILVER JUL3 23.70 0.00 -0.00 -21.62 3007
COMEX gold and silver contracts show the most active months
(Editing by Lewa Pardomuan and Clarence Fernandez)