Feb 28 (Reuters) - Australian shares fell on Friday and were on track to post a weekly loss, dragged by mining and gold stocks as prices of the underlying commodities dropped.

The ASX 200 index .AXJO fell 0.8% to 8,200.1 points by 2357 GMT. The index was set for a loss of 1.1% for the week.

Mining stocks .AXMM weighed on the benchmark, falling 2% as iron ore prices fell on escalating U.S. tariff measures against Chinese steel. IRONORE/

BHP BHP.AX and Rio Tinto RIO.AX declined 1.8% and 2.2% respectively, while Fortescue FMG.AX lost 1.2%.

The gold sub-index .AXGD tumbled 2.8% and was set for its sharpest weekly decline since late-December as bullion continued to lose its shine as the U.S. dollar strengthened. GOL/

Northern Star Resources NST.AX and Evolution Mining EVN.AX tumbled 2.6% and 2.9% respectively.

Technology stocks .AXIJ declined 1.4%, in tandem with overnight Wall Street losses. .N

Overnight, the U.S. Dow Jones Industrial Average .DJI fell 0.45%, the S&P 500 .SPX, .SPX lost 94.49 points, while Nasdaq .IXIC lost 2.78%.

Consumer staples .AXSJ eased 1.8%. Drinks retailer Endeavour Group EDV.AX fell 4.2% and was also among the biggest losers in the benchmark index after it reported a 15% fall in its half-yearly profit.

Healthcare stocks .AXHJ fell 0.9% and were poised to end the week lower, while Telix Pharmaceuticals TLX.AX eased 7.7%.

Financials .AXFJ were little changed, while top lender Commonwealth Bank of Australia CBA.AX slid 0.4%.

Energy stocks .AXEJ fell 0.7%, despite being on track for its first weekly gain since five straight weeks of losses, while U.S. West Texas Intermediate $(WTI)$ crude CLc1 lost 0.37% to $70.09 per barrel.

Casino operator Star Entertainment SGR.AX fell 7.7% after it said that it was expecting to receive one or more liquidity proposals and its first-half results, due later in the day, will be finalised only if those offers proved sufficient to address its cash crunch.

New Zealand's benchmark S&P/NZX 50 index .NZ50 traded largely flat.

(Reporting by Nichiket Sunil in Bengaluru; Editing by Varun H K)

((Nichiket.Sunil@thomsonreuters.com;))

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