PRECIOUS-Gold steady ahead of U.S. data, stronger dollar caps gains

(Adds details and updates prices)
* U.S. non-farm payrolls data due at 1230 GMT
* Dollar hits one-week high
* Interactive graphic tracking the global spread- open https://tmsnrt.rs/3aIRuz7
in an external browser

By Shreyansi Singh
April 3 (Reuters) - Held back by a stronger dollar, gold
prices were little changed on Friday as investors awaited U.S.
non-farm payrolls data for further cues on the economic impact
of the coronavirus pandemic.
Spot gold XAU= was unchanged at $1,612.58 per ounce by
0834 GMT, after a 1.4% jump on Thursday as record high U.S.
jobless claims intensified fears about economic damage due to
the virus and drove safe-haven demand. The metal was down 0.5% so far this week after an 8% jump in
the previous week. U.S. gold futures GCcv1 fell 0.4% to
$1,631.40 per ounce on Friday.
Gold could not build a rally because of the dollar's overall
strength, said DailyFx currency strategist Ilya Spivak.
The dollar .DXY was up 0.4% against key rivals, having hit
its highest in a week earlier in the session, on fears of a
global recession. USD/ "If (the U.S. non-farm payrolls) data is really bad, in the
sense that the U.S. is already in deep recession, gold could
actually go down as demand for cash is going to heat up again,"
Spivak said.
Economists are forecasting job losses of 100,000 for last
month, a sharp reversal from gains of 273,000 in February,
according to a Reuters poll. The data is due at 1230 GMT.
Gold has gained more than 6% so far this year, but it did
see sharp sell-offs recently as a global rout in equities
prompted investors to sell the metal for cash and to meet margin
calls. MKTS/GLOB
"With near-term positioning a bit stretched, it's difficult
to gauge if there is still enough meat on the bone to whet
investors' appetite for bullion on a Friday after a
roller-coaster week," Stephen Innes, chief market strategist at
financial services firm AxiCorp, said in a note.
Meanwhile, the pandemic continued to explode in the United
States and the death toll climbed in Italy, with global virus
cases surpassing 1 million, according to a Reuters tally.

Highlighting the economic toll, China's services sector
struggled to rebound in March, while the growth rate of U.S.
gross domestic product will decline by more than 7% in the
second quarter, according to projections released by the
Congressional Budget Office. Palladium XPD= rose 0.6% to $2,225.78 an ounce, while
platinum XPT= fell 1.2% to $718.34 per ounce. Both metals were
set to register a weekly loss.
Silver XAG= fell 1.3% to $14.35 per ounce.