PRECIOUS-Gold gains over 1% as buyers shrug off strong US jobs data

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US job growth accelerates in January

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US unemployment rate falls to 4.3%

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US dollar edges down to near two-week lows

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US 10-year Treasury bond yields fall to near one-month low

(Adds fresh comment and updates with settlement prices)

By ?Anmol Choubey

Feb 11 (Reuters) - Gold prices rose more ?than 1% on Wednesday, as steady long-term buying helped the metal regain momentum after briefly paring gains while markets ?absorbed a strong U.S. jobs report.

Spot gold was up 1% at $5,074.29 per ounce ?by 11:28 a.m. ET, having earlier touched $5,118.47 before easing slightly.

U.S. gold ?futures for April ?delivery settled 1.3% higher at $5,098.50 per ounce.

U.S. job growth accelerated in January and the unemployment rate fell to ?4.3%, signalling labor-market resilience that could give ?the Federal Reserve room to hold rates steady while it monitors inflation.

"One strong jobs report won't dent the mentality behind gold buying which ?is considered long-term and fundamental," said ?Tai Wong, an ?independent metals trader.

"Since the big collapse, gold has shown mostly higher highs and higher lows, with buyers still confident amid the debt and divest-from-the-U.S. ?narrative."

Gold suffered sharp two-day sell-offs on January 30 and February 2 after ?U.S. President Donald Trump announced his pick for the Fed chair. But the metal has still gained more than 17% this year, building on last year's record advance amid rising geopolitical and economic uncertainty and increased central bank purchases.

Data on Tuesday ?showed U.S. ?retail sales were unexpectedly unchanged in December, potentially setting consumer ?spending and the economy on a slower growth path heading into the new year.

The ?Fed will keep rates unchanged through Chair Jerome Powell's term ending in May but cut immediately afterward in June, a Reuters poll showed, with economists warning that policy under his likely successor, Kevin Warsh, could become too loose.

Non-yielding gold typically performs well during periods of geopolitical or economic uncertainty and when interest rates are lower.

Investors focus now await the ?U.S. consumer price index report due on Friday.

Spot silver was up 4.6% at $84.39 per ounce, after falling more than 3% in the previous session.

Spot platinum rose 2.5% ?to $2,138.50 per ounce, while palladium added 0.8% ?to $1,722.06. (Reporting by Anmol Choubey in Bengaluru Editing by Nick Zieminski ?and Krishna Chandra Eluri)