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PRECIOUS-Gold subdued on firmer dollar; focus on U.S. jobs report

    May 6 (Reuters) - Gold prices inched lower on Thursday due
to a stronger dollar, while investors awaited the release of
U.S. non-farm payrolls data for April due later this week.
        
    FUNDAMENTALS
    * Spot gold        was down 0.1% at $1,785.05 per ounce by
0126 GMT. 
    * U.S. gold futures        was steady at $1,785.10 per
ounce.
    * The dollar index        hovered close to a two-week high,
making gold more expensive for other currency holders.       
    * U.S. private payrolls surged by the most in seven months
in April as companies rushed to boost production amid a surge in
demand, suggesting the economy gained further momentum early in
the second quarter, powered by massive government aid and rising
COVID-19 vaccinations.             
    * Investors look forward to Friday's U.S. monthly jobs
report, which is expected to show nonfarm payrolls increased by
978,000 jobs last month.             
    * The U.S. economy may be growing more quickly and
unemployment falling faster than the core of Federal Reserve
policymakers projected in March, Fed Governor Michelle Bowman
said on Wednesday.             
    * Meanwhile, Chicago Federal Reserve Bank President Charles
Evans on Wednesday reiterated his worries about reaching the
Fed's 2% inflation goal and said he expects monetary policy to
stay super-easy for some time.             
    * Lower interest rates decrease the opportunity cost of
holding non-yielding bullion.
    * The Bank of England will say on Thursday Britain's economy
is heading for a much stronger recovery this year than it
previously expected and it might start to slow its pandemic
emergency support.             
    * Palladium        fell 0.1% to $2,968.78 per ounce, after
scaling an all-time high of $3,017.18 per ounce on Tuesday,
driven by supply shortfalls.
    * Silver        was down 0.5% at $26.37 per ounce, while
platinum        dipped 0.4% to $1,220.16. 
            
DATA/EVENTS (GMT)
1100  UK       BOE Bank Rate         May
1100  UK       GB BOE QE Corp        May
1230  US       Initial Jobless Clm   Weekly

 (Reporting by Shreyansi Singh in Bengaluru; Editing by Krishna
Chandra Eluri)
  
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