Gold extended losses on Friday, weighed down by a stronger U.S. dollar and expectations the U.S. Federal Reserve will hike rates next week.

         FUNDAMENTALS

* Spot gold was down 0.3 percent at $1,167.40 an ounce by 0054 GMT, on track for a fifth consecutive weekly decline.

* U.S. gold futures shed 0.2 percent to $1,169.60 per ounce.

* The dollar held large gains against the yen and euro early on Friday.

* The Fed is expected to hike rates at its policy meeting next Tuesday and Wednesday, a move seen as negative for gold, as higher U.S. rates lift the opportunity cost of holding non-yielding bullion, while boosting the dollar, in which it is priced.

* The number of Americans filing for unemployment benefits fell from a five-month high last week, pointing to labour strength that underscores the economy's sustained momentum.

* Holdings of the SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, fell 0.34 % to 860.71 tonnes on Thursday. 

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