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* Gold down 0.7% this week * Platinum and palladium set for weekly gains * January U.S. non-farm payrolls due at (Updates prices) By Having lost nearly 2% in the previous session, spot gold
was up 0.1% at The dollar lost 0.2% against a basket of currencies, making gold a more attractive bet, but bullion remains 0.7% down on the week and set for its biggest weekly decline since mid-November. "The recovering dollar is pulling down bullion," with some
profit-taking also at play, said A day after the U.S. Federal Reserve raised its benchmark borrowing costs by 25 basis points (bps), the European Central Bank and the Bank of England both raised interest rates by 50 bps each, in line with expectations. Gold tends to gain on expectations of lower interest rates because they reduce the opportunity cost of holding non-yielding bullion. "A further rally in gold needs a new catalyst and the central banks told us more or less what the markets were forecasting ... They didn't tell us something new, something more than expected, and that's why gold is taking a break," De Casa said. Investors now await the U.S. non-farm payrolls report for January, which is expected to show 185,000 more jobs last month after a rise of 223,000 in December, according to a Reuters survey of economists. Meanwhile, gold ETF holdings show "no sign of demand, with total holdings hovering near a three-year low", Saxo Bank said in a note. Elsewhere, spot silver rose 0.2 % to Platinum fell 0.4% to
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