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PRECIOUS-Gold falls 1 pct to 2019 low as equities, dollar gain


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* Positive economic data from China, U.S. lift equitiessentiment

* Investors await China GDP data due on Wednesday

* Gold's break below key levels signals further downside-analysts

* Palladium deficit to deepen in 2019, 2020 -StandardChartered (Updates prices, adds details)

By Brijesh Patel

April 16 (Reuters) - Gold dropped 1 percent on Tuesday toits lowest level of 2019, as a string of robust economic databoosted demand for riskier assets like equities while bullionwas further weighed down by gains in the U.S. dollar.

Spot gold XAU= was down 1.1 percent to $1,273.91 per ounceas of 1:45 p.m. EDT (1745 GMT), having earlier slipped to itslowest since Dec. 27 at $1,272.70.

U.S. gold futures GCv1 settled 1.1 percent lower at$1,277.20 an ounce.

"We're likely to see some more pressure on gold over thenext couple of days, especially with earnings coming out that'sgoing to keep the equity market stronger," said Bob Haberkorn,senior market strategist at RJO Futures. Bullion is also beingweighed down by strong data from China and abetter-than-expected U.S. jobs report last week, he said.

Indicating strong appeal for riskier assets, Wall Streetequities climbed on better-than-expected results from healthcaregiants, adding to momentum in global equities driven by the datafrom China and improved sentiment in Germany. MKTS/GLOB

The dollar .DXY also firmed, making the yellow metal moreexpensive for holders of other currencies. USD/FRX/

Investors are now waiting on China's gross domestic productnumbers for further cues on global growth. A Reuters pollforecast first-quarter growth to have cooled to 6.3 percent, theweakest pace in at least 27 years, but a flurry of measures toboost domestic demand may have put a floor under activity inMarch. urn:newsml:reuters.com:*:nL3N21T12T

"If the data comes out south of 6 percent, it will be enoughto rally gold, but anything north of 6 percent will keep gold onthe defensive," RJO's Haberkorn said.

Bullion could see a bounce later in the week on bargainhunting with "traders waiting for more downside to go," headded.

On the technical front, gold's break below key supportlevels, including the 100- and 50-day moving averages, signaleda further downside to prices, analysts and traders said.

Overall sentiment for bullion was turning positive, however,with increasing central bank buying likely to provide a cushionfor prices, Standard Chartered analysts said in a client note.

Among other precious metals, silver XAG= dipped 0.2percent to $14.97 an ounce, having hit $14.81 in the previoussession, its lowest since Dec. 26.

Spot platinum XPT= fell 0.5 percent, to $881.00 per ounce,while palladium XPD= was down 0.6 percent to $1,353.26.

A sustained deficit in palladium's supply had pushed pricesto a record high of $1,620.53 last month and was likely todeepen further this year and in 2020, Standard Chartered added.

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GRAPHIC-Gold trading below key technical levels    https://tmsnrt.rs/2XobSOD
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(Reporting by Brijesh Patel and Nallur Sethuraman in Bengaluru;editing by G Crosse) ((Brijesh.Patel1@thomsonreuters.com; +1-651-848-5832, outsideN.America, +91-80-6749-3865; Reuters Messaging:Brijesh.Patel1.thomsonreuters.com@reuters.net))






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