currency and tends to move in the opposite direction to it

LONDON (Reuters) - Gold edged lower on Friday as the dollar strengthened against the euro in the wake of U.S. December non-farm payrolls numbers, but reaction to the data was muted as it came in broadly in line with expectations. Hot StocksSpot gold slipped to $850.65/852.65 an ounce at 9:15 a.m EST from $856.10 late in New York on Thursday.U.S. gold futures for February delivery on the COMEX division of the New York Mercantile Exchange fell $2.80 to $851.70.A government report showed U.S.

employers slashed payrolls by 524,000 in December, driving the unemployment rate to its highest level in nearly 16 years.Analysts polled by Reuters had expected a reduction of 550,000 jobs in December."The non-farm payrolls were only a few thousand off consensus, so that took some of the surprise away from the market," said BNP Paribas metals analyst Michael Widmer.Gold is taking its cues predominantly from the currency markets. The dollar turned higher against the euro in choppy trading after the data, with the single currency hitting a session low of $1.3588.A stronger dollar tends to pressure gold, which is often bought as an alternative asset to the U.S. currency and tends to move in the opposite direction to it.While the data was very poor, Widmer said, recent economic reports from the euro zone economies have also been weak, leaving both the dollar and the euro lacking support.Oil prices, which also tend to influence gold, slipped more than $1 a barrel after the data to below $41 a barrel, as the rise in unemployment deepened gloom over the demand outlook in the world's largest oil consumer.In the longer run, concern over the prospects for the global economy continue to support gold as a haven from risk.However, jewelry buying is relatively lackluster and strong demand for investment coins and bars is said by traders to have slackened since its autumn peak.In India, the world's leading market for gold jewelry, buying remains muted with prices at relatively high levels."There is hardly any demand at these prices," said Mayank Khemka, managing director of bullion importer Khemka International in Delhi.FORECAST CUTPlatinum has posted modest gains since the beginning of the year after a sharp sell-off in the last nine months of 2008, which knocked prices down 65 percent from their March highs.However, it is still likely to suffer in 2009 from falling demand from carmakers, the major consumers of the white metal.Investec cut its 2009 platinum forecast by 28 percent to $970 an ounce, although it said it remains positive on the longer-term outlook."We see downside risk to the platinum price in the near-term," it said. "The outlook for vehicle sales, which accounts for 50 percent of platinum and palladium demand and 80 percent of rhodium demand, remains very poor."Spot platinum was quoted at $978/988 an ounce, down slightly from $991.50 late in New York on Thursday, while palladium was at $191.50/196.50 an ounce from $194.50.Spot silver was at $11.09/11.17 an ounce against $11.08.The world's largest silver-backed exchange-traded fund, the iShares Silver Trust SLV.A, said its bullion holdings rose 1 percent or just over 55 tonnes on January 8.(Reporting by Jan Harvey; Editing by Peter Blackburn) Hot Stocks. The Raiders lost today in what can only be called a must win game.

They got off to a fast start, ran the ball better than they had in weeks, kept the game close through the 4th quarter, drove down to the red zone with seconds left and lost. Raider Coach Tom Cable had to pull Jamarcus Russell in the third Quarter as he was mostly ineffective, giving Bruce Gradkowski the rock down by 6. Although an improvement over Russell, Bruce Gradkowski could not quite get the score as the ball went off the hands of Heyward Bey only to be intercepted by the Chiefs in the end zone to seal the Raiders fate. At the post game press conference Coach Cable said he thought the team as a whole played better in all phases of the game except for the passing game. "We missed a lot of plays over the top when there were guys open and couldn't make the play and that was disappointing. In every game statement so far he has come right out and said that Jamarcus is the Quarterback of the Raiders. Now he says he's going to put the guy out there that gives us the best chance of winning A huge deal to all Raider players and fans alike.