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July 6 (Reuters) - Gold prices fell on Monday after hitting a two-week high, pressured by a stronger dollar, but losses remained limited amid signs of a slowing U.S. labor market, which eased expectations of a U.S. interest rate hike.

Gold fell 0.8 percent to $ 4,143.12 an ounce by 12:02 GMT in spot trading, after hitting its highest level since June 22 earlier in the day. U.S. gold futures for August delivery rose 0.7 percent to $4,155.50 an ounce.

Jim Wyckoff, market analyst at American Gold Exchange, said, "The dollar index is slightly higher today, and that's a daily negative for gold."

The dollar rose 0.2 percent, which led to a rise in gold, which is priced in the US currency, for holders of other currencies.

Data last week showed a sharp slowdown in US job growth during June, and job growth figures for the previous two months were revised downward, prompting markets to lower their expectations for an interest rate hike in the near term.

Although gold is often seen as a hedge against inflation, rising interest rates usually have a negative impact on the non-yielding metal.

Investors are now awaiting the release of the minutes from the Federal Reserve's (the US central bank) latest meeting on Wednesday.

The CME Group’s FedWatch tool indicates that markets currently expect about a 57 percent probability of an interest rate hike in September.

JPMorgan said that demand for gold from key sectors would not be as strong as it had anticipated, and set a ceiling for the precious metal's prices this year at $4,300 in the third quarter and $4,500 in the fourth quarter.

As for other precious metals, silver fell 1.2 percent in spot trading to $ 61.63 an ounce, after earlier hitting its highest level since June 23.

Platinum fell 0.7 percent to $ 1,626.10 an ounce, and palladium dropped 0.8 percent to $ 1,264.16 an ounce.