PRECIOUS-Spot gold slips as dollar strengthens on U.S. jobs data

MELBOURNE, Feb 8 (Reuters) - Spot gold slipped on Monday from near a three-month top hit the session before, after a solid U.S. jobs report strengthened the dollar and potentially boosted the chance of rate hikes this year.


* Spot gold had slipped by 0.7 percent to $1,165.10 an ounce by 0008 GMT, as it fell back from its highest since Oct. 28 at $1,174.50 hit in the previous session.

* U.S. gold climbed 0.7 percent to $1,165.80.

* Across other metals, platinum shed 0.2 percent to $904.24, while palladium held 0.4-percent gains at $501.30 an ounce.

* Most Asian regional markets were closed on Monday for Lunar New Year, including Singapore, China, Hong Kong and Taiwan.

* U.S. employment gains slowed more than expected in January as the boost to hiring from unseasonably mild weather faded, but rising wages and an unemployment rate at an eight-year low suggested the labor market recovery remains firm.

* Global markets have been in turmoil since the start of the year, with stocks and commodities prices reeling, eroding inflation and making central banks increasingly dovish - a trend that could continue with more weak economic data.

* China’s January exports may have fallen for a seventh month with factories still battling falling prices, but an expected jump in bank lending may underscore the government’s bid to put a floor under the slowing economy.

* Hedge funds and money managers boosted their bullish bet in COMEX gold to a three-month high in the week to Feb. 2, U.S. Commodity Futures Trading Commission data showed on Friday.

* SPDR Gold Trust GLD, the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.70 percent to 698.46 tonnes on Friday from 693.62 tonnes on Thursday.

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* Global stock markets slumped and the U.S. dollar rallied on Friday.


0930 Euro zone Sentix index Feb

1500 U.S. Employment trends Jan

Reporting by Melanie Burton; Editing by Joseph Radford