Gold prices slipped on Friday and were on track for a weekly fall, as a stronger-than-expected U.S. jobs report reinforced expectations that the Federal Reserve will refrain from cutting rates at its December meeting. 

FUNDAMENTALS 
Spot gold was down 0.2% at $4,062.79 per ounce, as of 0157 GMT. Bullion has lost 0.3% so far this week. U.S. gold futures for December delivery edged 0.2% higher to $4,068.10 per ounce. 
 

The closely watched U.S. Labor Department report, delayed by the federal government shutdown, showed that September nonfarm payrolls increased by 119,000, more than double the estimated increase of 50,000. 
 

Traders now see nearly a 39% chance for a Fed rate cut next month, down from 60% earlier this month. * Gold, a non-yielding asset, tends to do well in low-interest-rate environments. 

The dollar was on track on Friday for its strongest weekly performance in more than a month, as investors wagered the Fed is unlikely to cut rates next month. A stronger dollar makes greenback-priced gold more expensive for holders of other currencies. 

Minutes from the Fed's October meeting released on Wednesday showed it cut interest rates even as policymakers cautioned that doing so could risk entrenched inflation and a loss of public trust in the U.S. central bank. 

Chicago Fed President Austan Goolsbee repeated on Thursday he is "uneasy" about frontloading interest-rate cuts, particularly with progress on inflation towards the Fed's 2% goal looking to have stalled and starting to go the wrong way. 
 

Cleveland Fed President Beth Hammack warned on Thursday that cutting rates further right now carries a wide range of risks for the economy. Fed Governor Lisa Cook sees a risk of outsized asset price declines. 

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.41% to 1,039.43 tons in the previous session from 1,043.72 tons on Wednesday. * Elsewhere, spot silver slipped 0.4% to $50.39 per ounce, platinum climbed 0.4% to $1,517.95, and palladium added 0.3% to $1,381.22. DATA/EVENTS (GMT) 0700 UK Retail Sales MM, YY Oct 0700 UK Retail Sales Ex-Fuel MM Oct 0745 France Business Climate Mfg, Overall Nov 0815 France HCOB Mfg, Svcs, Comp Flash PMIs Nov 0830 Germany HCOB Mfg, Svcs, Comp Flash PMIs Nov 0900 EU HCOB Mfg, Svcs, Comp Flash PMIs Nov 0930 UK Flash Mfg, Svcs, Comp PMIs Nov 1445 US S&P Global Mfg, Svcs, Comp PMIs Flash Nov 1500 US U Mich Sentiment Final Nov (Reporting by Brijesh Patel in Bengaluru; Editing by Sherry Jacob-Phillips)