Gold eyes first weekly gain since March as growth concerns linger

April 26 (Reuters) - Gold rose on Friday, on track for its first weekly gain in five weeks as investors focused on signs of economic weakness after dismal data from Germany and Asia, although a strong dollar ahead of U.S. GDP data kept a lid on gains.

FUNDAMENTALS

* Spot gold XAU= was up 0.1 percent at $1,278.62 per ounce, as of 0105 GMT. The metal is up about 0.1 percent for the week and set for its first gain since the week ending March 22.

* U.S. gold futures GCv1 rose 0.1 percent to $1,280.60 an ounce.

* Asian shares got off to a subdued start on Friday, while the dollar held near two-year highs against the euro on speculation that data later in the day will show the U.S. economy outperforming the rest of the developed world. MKTS/GLOBFRX/

* The dollar was also helped by data showing new orders for U.S.-made capital goods increased by the most in eight months in March, hitting their highest level on record.

* Japan's industrial output fell 0.9 percent in March from the previous month, down for the first time in two months, government data showed on Friday.

* Major central banks are done tightening policy, according to a majority of economists polled by Reuters, with the growth outlook wilting across developed and emerging economies along with scant prospects for a surge in inflation.

* The U.S. Federal Reserve is done raising interest rates until at least the end of next year, while about a third of economists polled by Reuters who had a view that far out predicted at least one rate cut by then.

* Newmont Goldcorp NEM.N, the world's biggest gold miner, reported a higher-than-expected first-quarter profit on Thursday, as a boost in gold production and lower costs countered lagging gold prices.

* South Africa's Sibanye-Stillwater SGLJ.J on Thursday revised its offer for Lonmin LMI.L, with new terms that gave a valuation for the struggling platinum miner that was about 60 million pounds ($77 million) less than originally proposed.

* North Korean leader Kim Jong Un said during his summit with Russian President Vladimir Putin peace and security on the Korean peninsula depend entirely on the future U.S. attitude, North Korean state media KCNA said on Friday.

DATA AHEAD (GMT)

* 1030 Russia Central bank key rate April

* 1230 U.S. GDP Advance Q1

* 1400 U.S. U Mich Sentiment Final April

(Reporting by Arijit Bose in Bengaluru; editing by Richard Pullin)

((Arijit.Bose@thomsonreuters.com; Within U.S. +1 651 848 5832, Outside U.S. +91 8067495254; Reuters Messaging: Arijit.Bose.thomsonreuters.com@reuters.net))

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