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PRECIOUS-Gold holds near 4-month low as investors await U.S. data

SINGAPORE, June 4 (Reuters) - Gold was treading water on Wednesday, hovering near a four-month low hit in the previous session, as investors await U.S. economic data for cues amid increasing optimism about growth and weak bullion demand in Asia.

FUNDAMENTALS

* Spot gold was flat at $1,244.50 an ounce by 0032 GMT. The metal hit a four-month low of $1,240.61 on Tuesday, before closing flat and snapping a five-day losing streak.

* Asian physical demand, which usually tends to provide a floor to prices during sharp losses, has been weak as many expect gold to go lower. Asia is home to major gold consumers, China and India.

* SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 1.8 tonnes to 787.08 tonnes on Tuesday.

* Markets are eyeing U.S. private hiring data later on Wednesday and nonfarm payrolls on Friday to gauge economic strength. Gold is often seen as an investment-hedge at times of economic uncertainty.

* Centerra Gold's development plans for its Kumtor gold mine in Kyrgyzstan could damage the nearby Davydov glacier, the Central Asian state's environment protection agency said, adding to uncertainty about the mine's future.

* Among other precious metals, platinum steadied after a three-day fall as union workers in top producer South Africa consider a government proposal to resolve a 5-month platinum strike.

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MARKET NEWS

* Asian shares were steady on Wednesday and the dollar benefited from rising U.S. Treasury yields, while the euro remained under pressure ahead of expected easing steps from the European Central Bank.

DATA/EVENTS (GMT) 0750 France Markit services PMI May 0755 Germany Markit services PMI May 0800 Euro zone Markit services PMI May 0900 Euro zone Revised Q1 GDP 0900 Euro zone Producer prices April 1215 U.S. ADP national employment May 1230 U.S. International trade April 1345 U.S. Markit services PMI May 1400 U.S. ISM non-manufacturing PMI May

PRICES AT 0032 GMT

Metal Last Change Pct chg Spot gold 1244.5 0.3 0.02 Spot silver 18.78 0.02 0.11 Spot platinum 1427.8 5.1 0.36 Spot palladium 835.65 1.85 0.22 Comex gold 1245 0.5 0.04 Comex silver 18.785 0.022 0.12 Euro 1.3618 DXY 80.581

COMEX gold and silver contracts show the most active months

(Reporting by A. Ananthalakshmi; Editing by Richard Pullin)