March 5 (Reuters) - Gold slumped to a near nine-month low on Friday and headed for a third straight weekly decline after Federal Reserve Chair Jerome Powell disappointed investors with his view on rising yields that pushed up the dollar and bond yields.
FUNDAMENTALS
* Spot gold XAU= eased 0.2% to $1,693.79 per ounce by 0055 GMT, having earlier dropped to its lowest since June 8 at $1,688.96. It was down 2.3% for the week so far.
* U.S. gold futures GCv1 dropped 0.6% to $1,691.20.
* Powell on Thursday repeated his pledge to keep credit loose and said although the rise in yields was "notable", he did not consider it a "disorderly" move. The U.S. 10-year yield topped 1.5%, while the dollar surged to three-month highs. Higher yields increase the opportunity cost of holding bullion, which pays no interest. USD/ US/
* U.S. jobless claims rose last week after brutal winter storms in mid-February. The amount of gold held by exchange traded funds fell by 84.7 tonnes worth $4.6 billion in February, the World Gold Council (WGC) said. CME Group Inc CME.O decreased margins for COMEX 100 Gold Futures contracts by 9.1%. Holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust GLD fell 0.4% on Thursday. GOL/ETF
* Silver XAG= rose 0.2% to $25.35 an ounce, but was down 5% for the week so far, its worst since late-November.
* Palladium XPD= climbed 0.2% to $2,343.55. Platinum XPT= shed 1.2% to $1,113.02.
DATA/EVENTS (GMT) 0700 Germany Industrial Orders MM
Jan 0745 France Reserve Assets Total
Feb 0830 UK
Halifax House Prices MM Feb 1330 US
Non-Farm Payrolls
Feb 1330 US
Unemployment Rate
Feb 1330 US
Average Earnings YY
Feb 1330 US
International Trade
Jan 2000 US
Federal Reserve issues Consumer Credit for January