Aug 7 (Reuters) - Australian shares inched lower in volatile trade on Monday, with losses in financials outweighing gains in gold and energy stocks ahead of a slew of key corporate earnings reports this week.

The S&P/ASX 200 index fell 0.1% to 7,319.0 by 0026 GMT after closing 0.2% higher on Friday.

Asian markets started the week on a cautious note after data showed the U.S. economy added fewer jobs than expected in July, but solid wage gains and a decline in the unemployment rate back to 3.5% pointed to continued tightness in labour market conditions.

The Reserve Bank of Australia on Friday slashed its economic growth and inflation outlook for the year, saying that it could take "some more time" to assess how the economy and the risks to inflation and employment were evolving.

Investors globally are now awaiting the U.S. July inflation print for cues about the Federal Reserve's interest rate-hike trajectory.

In Sydney, financials slipped 0.4%, with the so-called big four banks trading in negative territory.

Gold Stocks rose 0.5% after bullion prices closed higher on Friday on the back of a softer dollar and lower Treasury yields.

Energy Stocks advanced 0.3% on firm oil prices as top producers Saudi Arabia and Russia pledged to keep supplies down for another month.

Among individual stocks, Estia Health jumped as much as 10% to hit its highest level since Sept. 5, 2018 after the aged care operator signed a deal to be taken over by U.S. investment company Bain Capital for an equity value of A$838 million.

New Zealand's benchmark S&P/NZX 50 index fell 0.1% to 11,931.9. (Reporting by Nausheen Thusoo in Bengaluru; Editing by Subhranshu Sahu)