PRECIOUS-Gold eases for 2nd day; US jobs data eyed
SINGAPORE, July 5 (Reuters) - Gold slipped a touch on Friday on a firmer dollar after the European Central Bank said it could cut interest rates further, but investors were waiting for U.S. jobs data later in the day for stronger cues.
* Spot gold fell 0.2 percent to $1,246.61 an ounce by 0019 GMT. U.S. gold was down $6 to $1,245.90.
* Gold is headed for a weekly gain of about 1.2 percent, compared with a 5 percent drop in the last week.
* The European Central Bank and the Bank of England left their key interest rates unchanged at regular monthly policy meetings on Thursday.
* The ECB said it would keep interest rates at record lows for an extended period and may yet cut further, responding to turbulence caused by the U.S. Federal Reserve's exit plan from money-printing.
* Fed Chairman Ben Bernanke last month said the U.S. economy was recovering strongly enough for the central bank to begin pulling back on its stimulus in the next few months, prompting a turmoil in global markets. Gold posted its biggest quarterly loss on record in April-June.
* The markets are eyeing U.S. nonfarm payrolls data on Friday to determine when the Fed would begin tapering its $85 billion monthly bond buying stimulus. For a preview, see
* Outflows from gold exchange-traded products totalled $4.1 billion in June and $28.2 billion year-to-date, according to data from BlackRock.
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* The U.S. dollar sped higher on the euro and sterling on Friday after the ECB and BoE both blindsided markets with decidedly dovish policy guidance, leaving the Federal Reserve as the only major central bank with any inclination to rein back stimulus.
* Japan's Nikkei average opened higher.
DATA/EVENTS (GMT) 1000 Germany Industrial orders 1230 U.S. Non-farm payrolls 1230 U.S. Unemployment rate
Precious metals prices 0019 GMT
Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1246.61 -2.58 -0.21 -25.56 Spot Silver 19.48 -0.03 -0.15 -35.67 Spot Platinum 1338.25 -0.25 -0.02 -12.82 Spot Palladium 674.97 0.47 +0.07 -2.46 COMEX GOLD AUG3 1245.90 -6.00 -0.48 -25.65 42398 COMEX SILVER SEP3 19.49 -0.22 -1.09 -35.71 Euro/Dollar 1.2892 Dollar/Yen 100.25
COMEX gold and silver contracts show the most active months
(Reporting by A. Ananthalakshmi; Editing by Ed Davies)