Gold heads for weekly gain as Middle East tensions spur safe-haven demand

June 13 (Reuters) - Gold prices climbed on Friday and were poised for a weekly gain, as Middle East tensions boosted demand for safe-haven assets, while a weaker dollar and expectations of imminent interest rate cuts by the Federal Reserve also supported bullion.

FUNDAMENTALS

* Spot gold XAU= was up 0.8% at $3,412.29 an ounce, as of 0028 GMT. Bullion has gained 3.1% so far this week.

* U.S. gold futures GCcv1 gained 1.2% to $3,384.40.

* Gold prices rose as investors turned to safe-haven assets following reports that Israel has begun carrying out strikes on Iran. Two U.S. officials said on Thursday that the United States had no involvement in the operation.

* U.S. President Donald Trump said on Wednesday that U.S. personnel were being moved out of the region as it could be a "dangerous place" and that the United States would not allow Iran to have a nuclear weapon.

* The U.S. dollar index .DXY fell to its lowest level in more than three years, making dollar-priced gold more affordable for overseas buyers. USD/

* Signaling a cooling labor market and subdued inflation pressures, the number of Americans filing new applications for unemployment benefits held at an eight-month high last week, while slowing domestic demand helped to restrain producer prices in May.

* The data was released a day after the Labor Department reported a moderate rise in consumer prices in May.

* Meanwhile, The International Monetary Fund said on Thursday that its next global growth forecast in July will take into account both positive and negative trade developments but declined to predict a tariff-driven GDP downgrade similar to that released by the World Bank this week.

* Elsewhere, spot silver XAG= was up 0.3% at $36.25 per ounce, platinum XPT= rose 0.2% to $1,297.72, while palladium XPD= gained 0.6% to $1,062.35. All three metals were headed for weekly gain.