* Follow-through selling on Greece worry, US jobs weigh
    * Greek bailout talks put European investors on edge
    * Gold next major technical hurdle comes at $1,800/oz
    * Coming up: U.S. consumer credit due Tuesday


    By Frank Tang and Jan Harvey	
    NEW YORK/LONDON, Feb 6 (Reuters) - Gold prices fell on
Monday, after the dollar rose on a continued lack of progress in
the Greek bailout and a better U.S. economic outlook added to
 bullion's profit-taking seen during the previous
session's sharp drop.	
    Gold tracked losses in U.S. equities as the failure of Greek
coalition parties to approve a new bailout package rekindled
worries about a chaotic default in the euro zone country,
 and that lifted the dollar index. [ ID:nB5E8CE021]
 	
    Gold dropped 2 percent on Friday after encouraging U.S.
payrolls data smashed hopes of extra stimulus from the Federal
Reserve, which had been priced into bullion's 11 percent rally
in January.  	
    "The dollar's up because of worries over Greece and optimism
surrounding the U.S. economy after the jobs report. In the long
run, there are still a lot of downside risks to the dollar,"
said Jason Schenker, president of Prestige Economics LLC.	
    "I don't think it (jobs) changes the uptrend for gold," he
said.	
    Spot gold was down 0.3 percent at $1,720.86 an
ounce by 2:36 p.m. EST (1936 GMT), off a low of $1,711.29
hit earlier in the session.	
    U.S. gold futures for April delivery settled
down $15.40 an ounce at $1,724.90. Trading volume was about 25
percent below its 30-day average but largely in line with its
recent pace. 	
    Mark Arbeter, chief technical strategist at S&P Capital
IQ, said that the Fed's near-zero interest-rate outlook and a
breakdown of the dollar index "put an end to the correction in
gold." 	
    On charts, he said that gold could face a major hurdle
at around $1,800 an ounce or the top of its large base that
started in September 2011. 	
    	
 	
     	
    The precious metal is still up nearly 10 percent this year,
but if more signs emerge that the economy in the United States
is recovering faster than the euro zone, pointing to a stronger
dollar, gold may struggle to revisit its highs, analysts say.	
    "As long as the United States maintains its modest growth
and the EU continues to disappoint, you would expect the dollar
would continue to strengthen, and that wouldn't be positive for
gold," said Carl Firman, an analyst at VM Group.	
    Europe's debt crisis drove many investors to buy gold as a
shelter from risk last year, driving the price to a record-high.
However, in recent months gold has tended to move more in line
with so-called riskier assets, like other commodities.	
          	
    PHYSICAL DEMAND STRONG	
    Demand for physical gold from key Asian markets was strong,
however, as buyers took advantage of Friday's price drop to
re-enter the market.	
    Barclays Capital said in a note that gold held across the
physically backed exchange-traded products rose by 20 tonnes
last week, and preliminary data suggested inflows in January
mostly offset the net redemptions in December.	
    Major bullion bank HSBC said it was keeping its 2012 average
gold forecast at $1,850 an ounce due to accommodative global
monetary policies, financial market uncertainty and renewed
central banks' interest.  	
    Silver edged up 0.4 percent for the day at
$33.72 an ounce. Spot platinum inched up 0.3 percent at
$1,622 an ounce, while spot palladium was down 0.6
percent at $701.05 an ounce. 	
 2:36 PM EST     LAST/    NET   PCT      LOW    HIGH  CURRENT
                SETTLE   CHNG  CHNG                       VOL
 US Gold APR   1724.90 -15.40  -0.9  1714.00 1740.90  125,916
 US Silver MAR   33.75  0.001   0.0   32.985  33.870   34,316
 US Plat APR   1629.80  -2.10  -0.1  1606.10 1632.00    4,581
 US Pall MAR    705.95  -2.90  -0.4   692.00  707.45    3,144
 
 Gold          1720.86  -4.94  -0.3  1712.35 1737.59         
 Silver         33.720  0.130   0.4   33.020  33.840
 Platinum      1622.00   4.50   0.3  1606.50 1626.50
 Palladium      701.05  -3.95  -0.6   693.00  706.00
 
 TOTAL MARKET              VOLUME          30-D ATM VOLATILITY
                CURRENT   30D AVG  250D AVG   CURRENT     CHG
 US Gold        132,040   176,158   192,957     22.06    0.34
 US Silver       41,313    37,898    40,318     35.71   -3.25
 US Platinum      4,617     6,246     7,671        31   -3.00
 US Palladium     3,339     3,277     4,782

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