PRECIOUS-Gold eases as stocks gain on robust U.S. jobs data

* Global stocks hit 1-1/2-month high
* U.S. economy created the most jobs in seven months in
March
* Platinum scales more than two-week peak

(Updates prices)
By Sumita Layek
April 5 (Reuters) - Gold prices edged lower in
holiday-thinned trading on Monday as robust U.S. jobs data
fuelled hopes for a rapid economic recovery and bolstered global
equities, denting bullion's appeal.
Spot gold XAU= was down 0.1% at $1,726.80 per ounce, as of
1132 GMT. U.S. gold futures GCcv1 were unchanged at $1,727.80
per ounce.
Most markets in Europe were closed for the Easter holiday.
"The stellar March non-farm payrolls print is ramping up
optimism surrounding the U.S. economic recovery," which in turn
is boosting risk-on sentiment and dampening bullion demand, FXTM
market analyst Han Tan said.
"Should the hard data continue to warrant more risk-taking
activities in the markets, traditional safe havens are likely to
struggle against the risk-on tide," Tan said.
Global stocks rose to a 1-1/2-month high after data last
week showed the U.S. economy created the most jobs in seven
months in March, aided by vaccine rollouts and additional
pandemic relief. MKTS/GLOB Investors are now awaiting U.S. services and
non-manufacturing PMI data later in the day and minutes from the
Federal Reserve's last policy meeting on Wednesday. U.S. President Joe Biden's announcement of a long-awaited $2
trillion-plus job plan last week has raised some concerns over
inflation. "So far, the Fed is quite committed to keep interest rates
unchanged until the end of 2023, but if inflation increases ...
then they will achieve their long term objective sooner than
expected," said Jigar Trivedi, commodities analyst at
Mumbai-based broker Anand Rathi Shares.
"If that happens, we are going to see an increase in
interest rates and that will be negative for gold prices."
Silver XAG= fell 0.2% to $24.91 per ounce and palladium
XPD= was down 1% at $2,638.94.
Platinum XPT= dipped 0.6% to $1,202.41 per ounce after
hitting its highest since March 18 earlier in the session at
$1,218.