UPDATE 1-Spot gold slips as dollar rises after jobs data
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LONDON, July 3 (Reuters) - Gold prices retreated on Thursday as the dollar rose after U.S. jobs data showed losses in line with consensus estimates, analysts said.
Spot gold <XAU=> slipped to $926.70 an ounce and was at $932.75/934.60 an ounce at 1313 GMT compared with $942.60/943.60 an ounce late in New York on Wednesday.
U.S. employers cut workers from their payrolls for the sixth straight month in June for the country's longest losing streak since 2002, while the unemployment rate held steady at 5.5 percent, government data [ID:nN02417855]
The U.S. Labor Department said 62,000 jobs were lost from nonfarm payrolls last month compared with forecasts that 60,000 jobs would be lost in June.
"Job losses are not accelerating, which is very encouraging. But oil at $145 looks bad for jobs," said David Thurtell, analyst at BNP Paribas.
Comments by European Central Bank President Jean-Claude Trichet that they have no bias in terms of interest rates had also helped boost the dollar, analysts said. [ID:nECBNEWS]
The ECB raised its benchmark interest rate by a quarter percentage point to 4.25 percent.
Gold hit a high of $946.50 an ounce on Wednesday, its strongest level since April 17 on buying triggered by worries about inflation and record high oil prices. Continued...



