PRECIOUS-Gold inches down as mixed Chinese data boosts equities

* China GDP in line with consensus, activity data strong
* Platinum hits two-month high
* Spot gold looks neutral in $1,404-$1,421 range -
technicals
* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl

(Updates prices)
By K. Sathya Narayanan
July 15 (Reuters) - Gold edged lower on Monday as global
stock markets gained with investors focusing on some upbeat
economic readings from mixed Chinese economic data, while a firm
dollar further weighed on bullion.
Spot gold XAU= fell about 0.3% to $1,411.95 per ounce as
of 1:43 p.m. EDT (1743 GMT). U.S. gold futures GCv1 settled
0.1% up at $1,413.50.
China's second-quarter annual GDP growth fell to a 27-year
low of 6.2%, as expected, but its quarterly growth reading of
1.6% beat forecasts. June reports on industrial production,
retail sales and urban investment were above expectations.
"The equity market is looking at the data positively and
there is some risk appetite here," said Bart Melek, head of
commodity strategies at TD Securities in Toronto.
World shares rose towards an 18-month high following the
data, denting appetite for gold. Meanwhile, the dollar .DXY
was slightly higher against key rivals making gold more
expensive for holders of other currencies. USD/ MKTS/GLOB
"The gold market is reacting more to bad data than good. The
U.S. dollar seems to have found some support which may be
weighing on gold," said Tai Wong, head of base and precious
metals derivatives trading at BMO.
Investors await other data this week, such as U.S. retail
sales and industrial production, for clues about the health of
the world's largest economy.
The U.S. Federal Reserve releases its "Beige Book" on
Wednesday, which markets will watch for comments on how trade
tensions have affected the business outlook.
The yellow metal gained 1.1% last week on the back of
expectations of an interest rate cut by the U.S. central bank,
which also weighed on the dollar.
The outlook for gold remains positive, analysts said, with
the metal likely to stay supported on expectations of a Fed rate
cut and concerns of a global growth slowdown.
"Gold price action has been pretty choppy, but I could see
us traversing $1,380-$1,440 from now until the Fed meeting in
end-July, perhaps even more than once," BMO's Wong said.
Spot gold looks neutral in a narrow range of $1,404-$1,421
per ounce, and an escape could suggest a direction, according to
Reuters technical analyst Wang Tao. Spot palladium XPD= rose about 1.2% to $1,563.30 per
ounce. Silver XAG= added 0.8% to $15.34, after touching a near
two-week high of $15.36 earlier this session.
Platinum XPT= gained about 1.2% to $837.00 per ounce.
Earlier in the session it rose to $846.53, its highest in two
months.