PRECIOUS-Gold eases as strong US jobs data tempers Fed rate-cut expectations

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Gold falls as dollar firms on robust US jobs data

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US job growth accelerates in January

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Weekly jobless claims, inflation data next in focus

(Rewrites for EMEA morning session)

By Noel John

Feb 12 (Reuters) - Gold prices ticked lower ?on Thursday, after unexpectedly strong U.S. jobs data for ?January dented hopes for more interest rate cuts from the Federal Reserve in the near term, while a ?firmer dollar added to pressure on the market.

Spot gold edged 0.3% lower to $5,064.90 ?per ounce by 0820 GMT. U.S. gold futures for April ?delivery lost 0.2% to $5,086.30 ?per ounce.

Spot silver fell 0.5% to $83.59 per ounce, after a 4% climb on Wednesday.

"Gold eased back from ?above $5,100 and silver from above $86 after stronger-than-expected U.S. ?jobs data tempered expectations of imminent Fed rate cuts, lifting the dollar," said Ole Hansen, head of commodity strategy at Saxo Bank.

The ?U.S. dollar index edged higher, making dollar-priced ?metals more ?expensive for other currency holders.

"The renewed focus on incoming economic data suggests a degree of normalisation following the recent volatility spike, while the upcoming ?Lunar New Year holiday in China may further dampen risk appetite and ?liquidity," Hansen added.

Fed policymakers appear likely to keep interest rates on hold for longer after data on Wednesday showed the U.S. job market began 2026 on a stronger footing than expected.

U.S. job growth unexpectedly increased in January by 130,000 jobs ?after ?a downwardly revised 48,000 rise in December, while the unemployment rate ?fell to 4.3%.

Economists polled by Reuters had forecast payrolls advancing by 70,000 jobs.

Lower ?interest rates reduce the opportunity cost of holding non-yielding gold.

Investors are waiting for the weekly U.S. jobless claims report later in the day and inflation data on Friday for more cues on the Fed's monetary policy path.

"I think the CPI (inflation) print on Friday will be key. If we get a softer CPI print coupled with the jobs report data, that ?could keep gold from advancing much further and could see gold make a foray back below the $5000/oz mark," said Zain Vawda, analyst at MarketPulse by OANDA.

Spot platinum ?shed 0.7% to $2,117.09 per ounce, ?while palladium rose 0.7% to $1,704.50. (Reporting by Noel John in Bengaluru. ?Editing by Jane Merriman)