PRECIOUS-Gold eases as strong US jobs data dims Fed rate-cut hopes

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Gold falls as investors assess economic data

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US job growth accelerates in January

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Weekly jobless claims, inflation data next in focus

(Updates prices for EMEA mid-session trading)

By Noel John

Feb 12 (Reuters) - Gold prices ticked lower ?on Thursday, after unexpectedly strong U.S. jobs data ?for January tempered expectations of more near-term interest rate cuts by the Federal Reserve.

Spot gold edged 0.3% ?lower to $5,062.83 per ounce by 1159 GMT. U.S. gold futures for April ?delivery fell 0.3% to $5,084.30 per ounce.

Spot silver was down ?0.6% at $83.52 per ?ounce, after Wednesday's 4% climb.

"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.

Fed policymakers are

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.

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

The United States

added

130,000 jobs in January 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.

"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.

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.

Meanwhile, spot platinum shed 1.3% to $2,104.90 per ounce, while palladium ?was up 0.7% at $1,711.12. (Reporting by ?Noel John in Bengaluru Editing by Jane Merriman, Ronojoy ?Mazumdar and Diti Pujara)