PRECIOUS-Gold hits one-month high on weak U.S. outlook

* Gold benefits from safe-haven demand, US equities drop

* Chicago Fed survey shows US economic growth to slow

* US spec futures holdings post biggest rise in 13 months

* Coming up: Bernanke to speak on US economic outlook Tues (Recasts, updates with comment, prices, adds graphic)

By Frank Tang

NEW YORK, June 6 (Reuters) - Gold rose to its highest price in more than a month on Monday, as fears of a slowing U.S. economy and expectations that Federal Reserve monetary policy would remain easy prompted safe-haven demand.

Bullion has gained nearly 6 percent in the past three weeks, boosted by a string of disappointing U.S. economic indicators including Friday's weak jobs data. [ID:nOAT004818]

"A lot of people are taking their risk off by getting out of the S&P 500 and other riskier assets. There is too much uncertainty with the U.S. currency and the euro," said Phillip Streible, senior market strategist with Lind Waldock, a unit of futures broker MF Global.

"So, people think the safest place is the gold market at the moment."

A survey by the Federal Reserve Bank of Chicago showed that U.S. economic growth is expected to slow this year as inflation rises, a pattern that will reverse next year. Investors now await a speech by Federal Reserve Chairman Ben Bernanke on the U.S. economic outlook on Tuesday. [ID:nN06262310]

Spot gold was up 0.1 percent at $1,542.79 an ounce by 2:39 p.m. EDT (1839 GMT). Gold initially hit a session high of $1,553.30, its loftiest since early May, but pared gains as the dollar strengthened against the euro.

Bullion hit a record $1,575.79 an ounce on May 2.

U.S. August gold futures settled up $4.80 at $1,547.20, having traded from $1,542 to $1,553.90. COMEX gold futures volume was below 100,000 lots, almost 60 percent under its 30-day average, extending last week's weaker turnover.

Gold's weekly charts showed prices were well supported within a long-term upward trend channel above its 50-day moving average, said Adam Sarhan of Sarhan Capital.

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Gold's weekly chart bullish: http://r.reuters.com/wyz89r)

CFTC holdings graphics: http://r.reuters.com/buv87r

Fed concerned about job growth [ID:nFEDAHEAD]

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Spot silver rose 1.3 percent to $36.68, rebounding from near two-week lows in the previous session. That brought the gold/silver ratio to 42.1, its lowest since Thursday, denoting its outperformance over gold in the last few days.

Silver prices have fallen more than a quarter since hitting a record $49.51 on April 28 but are up 19 percent on the year, compared with gold's 9 percent rise.

Friday's surprisingly weak U.S. employment data kept the dollar near one-month lows and suppressed investor risk appetite.

"Weak U.S. economic data last week are strengthening expectations that the Federal Reserve will maintain key interest rates at the current very low level for even longer, which will keep the opportunity costs for precious metals low," Commerzbank said in a note.

The S&P 500 index fell to its lowest in more than two months as U.S. stocks extended a five-week decline on a weak performance by the bank and financial sector. [.N]

PERU, YEMEN, EURO DEBT IN FOCUS

Analysts cited Peru's presidential election victory by left-wing former army commander Ollanta Humala for fundamental support. Investors are worried Humala's views could lead to lower gold output by the world's sixth-largest producer.

Uncertainty over the future of Yemen while President Ali Abdullah Saleh was recovering from injuries sustained in an attack on his palace also unnerved markets. [ID:nLDE7550AA]

Greece's campaign to secure another bailout to avoid default added to investor jitters.

Strong interest by U.S. managed money more than offset traditionally weaker gold jewelry demand in the summer ahead of India's wedding season, a major gold buying event.

Speculative holdings of gold futures notched their largest increase in 13 months last week, according to data from the U.S. Commodity Futures Trading Commission.

The net noncommercial position in gold, often used as a proxy for speculative activity, staged its largest weekly rise since April 2010.

Platinum was up 84 cents at $1,811.99 an ounce, while palladium was up 1.1 percent at $788.47, having risen as much as 1.7 percent to an intraday peak at $793.50, its highest since early May. Prices at 2:39 p.m. EDT (1839 GMT)

LAST/ NET PCT YTD

CLOSE CHG CHG CHG US gold 1547.20 4.80 0.3% 8.9% US silver 36.782 0.591 0.0% 18.9% US platinum 1821.20 -2.50 -0.1% 2.4% US palladium 797.05 13.80 1.8% -0.8% Gold 1542.79 0.99 0.1% 8.7% Silver 36.68 0.47 1.3% 18.9% Platinum 1811.99 0.84 0.0% 2.5% Palladium 788.47 8.27 1.1% -1.4% Gold Fix 1549.00 6.25 0.4% 9.8% Silver Fix 36.87 168.00 4.8% 20.4% Platinum Fix 1819.00 1.00 0.1% 5.1% Palladium Fix 789.00 2.00 0.3% -0.3% (Additional reporting by Amanda Cooper in London; Editing by Dale Hudson)