Gold en route to third weekly fall on fading bets for Fed cut

* SPDR Gold Trust reports biggest outflows in over a year

* Fed's Jackson Hole summit on Aug 25 to provide guidance on rates

* Platinum bound for fifth straight weekly fall

Aug 18 (Reuters) - Gold steadied off its lowest since March on Friday as the dollar and bond yields eased, on course for a third straight weekly dip as strong U.S. economic data reinforced bets that the Federal Reserve will keep interest rates high.

Spot gold rose 0.1% to $1,890.60 per ounce by 0935 GMT, after touching its lowest in five months on Thursday. U.S. gold futures rose 0.3% to $1,920.80.

The dollar was down 0.1%, making gold cheaper for holders of other currencies.

"Ultimately, the medium-term outlook for gold is set to be influenced by Powell’s highly anticipated speech at Jackson Hole. In the meantime, $1,900 remains a key level of interest," said Lukman Otunuga, senior research analyst at FXTM.

"Sustained weakness below the $1,900 level may open a path toward $1,870."

Minutes from the last meeting showed most members continued to see "significant upside risks to inflation." Traders expect the Fed to keep rates steady in the 5.25-5.5% range until 2024, per CME's Fedwatch tool.

Benchmark 10-year U.S. Treasury yields eased from their highest levels since October, propping up zero-yield bullion.

On Thursday, holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, registered the biggest drop since July last year.

UBS cut its year-end target for gold from $2,100/oz to $1,950/oz, highlighting that the next boost in gold prices would require a renewal of ETF demand, expecting gold to remain range-bound until such a time.

However, the Swiss bank forecast central bank buying of gold to remain strong for the rest of the year, having picked up in June after three months of net selling.

In other metals, spot silver rose 0.4% to $22.78 per ounce. Platinum was up 0.8% to $896.39 while palladium was little changed at $1,217.66, though both were set for weekly declines. (Reporting by Seher Dareen and Swati Verma in Bengaluru;)