* Extended industrial demand slowdown could hurt silver- Heraeus

* Global shares muted, oil gains on Saudi pledge to cut output

* Platinum, palladium eke out gains

June 5 (Reuters) - Gold slipped on Monday as the dollar firmed after strong U.S. payrolls data last week, offsetting some of the support for zero-yield bullion from bets that the Federal Reserve may pause rate hikes in June.

Spot gold fell 0.4% to $1,940.39 per ounce by 1247 GMT, close to its lowest level since May 30 and trading in a $12 range.

U.S. gold futures fell 0.8% to $1,954.60.

"Gold bulls' shoulders slumped after yet another red-hot headline non-farm payroll print fuelled a rebound in the dollar," said Han Tan, chief market analyst at Exinity.

Gold dropped more than 1% on Friday after data showed the U.S. economy added 339,000 jobs last month, above estimates of 190,000.

Meanwhile the dollar index was up 0.3% on Monday, making greenback-priced bullion less affordable for overseas buyers.

Gold also weakened on safe-haven demand reducing after U.S. President Joe Biden pushed the debt ceiling deal through both the House and Senate, SP Angel analysts said in a note.

But providing a floor for bullion prices, the chances of the Fed standing pat on interest rates at its June 13-14 meeting were pegged at 76%, according to the CME FedWatch Tool.

Non interest-bearing bullion tends to become less attractive in a high-interest rate environment.

"To see higher gold prices, we need to see the Fed getting more dovish, which likely requires weaker economic data," said UBS analyst Giovanni Staunovo.

Global shares held firm as investors bet on a rate-hike pause and after Saudi Arabia pledged the biggest reduction in its oil output in years.

Silver dipped 1.2% to $23.32, platinum rose 0.7% to $1,010.78 while palladium fell 0.6% to $1,411.79.

Amid prospects for an economic slowdown in Europe and the U.S., an extended period of softening industrial demand could remove some support for silver prices from factors such as growth in solar cell production, Heraeus said in a note.

(Reporting by Seher Dareen in Bengaluru; Editing by Jan Harvey and Louise Heavens)