UPDATE 5-Gold ends off highs but up slightly after US data

* Dollar edges up but eases off high after poor job data

* Physical buying from jewelers helps support

* Silver slides to year low on growth fears

(Recasts, updates prices, market activity, adds second byline, dateline, previously LONDON)

By Carole Vaporean and David Sheppard

NEW YORK/LONDON, Sept 5 (Reuters) - Gold ended a rollercoaster day slightly higher on Friday after soaring more than 2 percent as weak U.S. jobs data caused the dollar to retreat from 11-month highs.

Gold bullion had been down in early trade. But then the U.S. Labor Department reported a sharper decline in August jobs creation than experts had expected. The unemployment rate jumped to a five-year high. [USD/]

After the report, the U.S dollar slid against the euro for the first time in seven sessions, and gold advanced to its session peak at $819.30 an ounce.

Gold retreated from session highs but spot gold <XAU=> remained up slightly at $801.10/813.10 an ounce in late trade compared with $796.15/797.75 at Thursday's close.

COMEX December gold GCZ8 rose as high as $824.20 during the session as the dollar weakened after the payrolls report. Some investors took advantage of currency differentials in overseas markets; others bought gold as a safe haven against U.S. economic weakness.

But the dollar edged up in late speculative buying, and December gold closed down 40 cents an ounce at $802.80 an ounce on the COMEX division of the New York Mercantile Exchange.

The Labor Department said 84,000 jobs were lost in August, a greater number than the 75,000 forecast by economists and the 60,000 lost payrolls in July. [nN05400604]

With the price swings in both gold and the dollar, traders said some investors got caught behind the action.

"This looks like the last battle of the longs to get prices to rally," said Commerzbank spot-trader Michael Kempinkski.

"A few shorts got caught on the wrong side when prices went back through $800, so they've had to cover going into the weekend. With the way the dollar has recovered lately, gold should really be down around $750 an ounce by now."

The dollar has risen by more than 17 cents against the euro since slipping to its weakest ever level of $1.6038 in mid-July.  Continued...