PRECIOUS-Gold heads for weekly gain on US fiscal concerns after tax-cut bill

July 4 (Reuters) - Gold held steady on Friday, poised for a weekly gain as U.S. President Donald Trump's tax-cut and spending bill passed in Congress, raising fiscal concerns, though stronger-than-expected U.S. jobs data capped bullion's gains.

FUNDAMENTALS

Spot gold XAU= was flat at $3,328.36 per ounce, as of 0029 GMT. Bullion is up 1.7% this week.

U.S. gold futures GCcv1 edged down 0.1% to $3,337.90.

Trump's tax-cut legislation cleared its final hurdle in the U.S. Congress on Thursday, as the Republican-controlled House of Representatives narrowly approved a massive package that would fund his domestic agenda and push millions of Americans off health insurance.

The labor market data on Thursday showed U.S. firms added a more-than-expected 147,000 jobs in June and the unemployment rate unexpectedly fell to 4.1%.

Solid job gains bolstered the case for the Federal Reserve to hold interest rates steady.

Fed funds futures traders are now pricing in a 50-basis-point rate cut this year, starting October. USDIRPR

Meanwhile, Trump announced that letters specifying tariff rates on imports would begin being sent out Friday, signaling a shift from earlier pledges to negotiate individual trade deals.

Non-yielding bullion, considered a safe-haven asset during geopolitical and economic uncertainties, tends to perform well in a low-interest-rate environment.

On Ukraine, Trump said a phone call with Russian President Vladimir Putin yielded no progress in resolving the conflict, while the Kremlin stated that Moscow would continue addressing the "root causes" of the crisis.

Platinum prices have limited room to rise further after a record quarterly rally, analysts and traders said, with Chinese imports expected to soften and South African output likely to recover against a backdrop of still-muted auto sector demand.

Spot silver XAG= fell 0.3% to $36.73 per ounce, platinum XPT= rose 0.8% to $1,378.30 and palladium XPD= was up 0.1% at $1,137.94. All three metals were headed for weekly gains.