Gold loses about $1/oz as US dollar steadies

SYDNEY, Nov 3 (Reuters) Gold prices fell about $1 an ounce on Friday after the US dollar steadied, prompting some bullion sales across Asia.

-- Spot gold was quoted at $622.75/623.50 an ounce at 0123 GMT versus $623.90/624.90 in late New York trade.

-- ''We're seeing some stability return to the dollar and that's slowing down gold,'' a trader said.

-- Gold hit an eight-week high above $620 an ounce on Thursday as investors jumped into a technical rally encouraged by a weaker dollar.

-- Gold futures are up almost $52 since starting to rally on Oct. 24 from $576 an ounce.

-- The dollar won a reprieve from recent weakness on Friday as a holiday in Japan drained liquidity and investors turned cautious ahead of US jobs data.

-- The dollar has been losing ground over the past week as US economic data took a turn for the worse, supporting bullion prices -- Traders are now looking to Friday's US non-farm payrolls data for October for clues to the future direction of the U.S. economy, the dollar and gold prices.

-- Spot platinum was at $1,148/$1,155 an ounce against $1,155/1,161 in late New York.

-- Spot palladium last fetched $323/328 an ounce versus $321/326 in late New York.

-- Spot silver was flat on the bid at $12.53/12.58 an ounce versus $12.53/60.

Reuters SBA VP0730