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SINGAPORE, July 4 (Reuters) Gold bounced on Wednesday on bargain hunting, while Tokyo futures fell after rising to its best level in a week.

-- Spot gold rose to $653.90/654.70 an ounce from $652.70/653.50 late in New York on Tuesday, when it dropped $4 as investors locked in profits after Monday's rally to its best level in nearly two weeks.

-- Key June 2008 gold futures on the Tokyo Commodity Exchange fell 19 yen per gram to 2,606 yen as New York's COMEX market dipped on profit taking and position squaring ahead of the U.S. Independent Day holiday. The Tokyo contract had risen to as high as 2,625 yen on Tuesday.

-- The euro dipped to $1.3607 .

-- Platinum rose to $1,281/1,286 an ounce from $1,280/1,284 an ounce late in New York.

-- Silver edged up to $12.58/12.61 an ounce from $12.56/12.61 late in New York.

-- Palladium was steady at $364/369 an ounce.

REUTERS DKS RAI0701