TREASURIES OUTLOOK-Bond prices gain on growth concerns, falling stocks

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* Chinese foreign reserves drop, add to appetite for Treasuries

* 10-year yield at one-year low; 30-year yield lowest since April (LSE: 0N69.L - news)

* Global risk-off trade fuels Treasury, Bund, gold and silver bids

By Tariro Mzezewa

NEW YORK, Feb 8 (Reuters) - U.S (Other OTC: UBGXF - news) . Treasury prices rallied Monday, with the yield on the 10-year note reaching a one-year low as falling stock and oil prices added to investor appetite for safe-haven government debt.

Yields on U.S. Treasuries fell sharply amid persistent worries of a global slowdown and as investors shied away from risky assets.

"There's a complete risk-off trade around the world and U.S. Treasuries have notably become a clear beneficiary of that risk-off tone," said Justin Lederer, Treasury strategist at Cantor Fitzgerald in New York.

The yield on the 10-year note fell to a one-year low of 1.735 percent, while the yield on the 30-year bond slipped to 2.561 percent, the lowest since April, The two-year note's yield fell to 0.658 percent, the lowest since October.

Investors noted data showing that China's foreign reserves fell for a third consecutive month in January as the central bank dumped dollars to defend the yuan and stem capital outflows.

"People are taking note of Chinese reserves dropping to their lowest since May 2012 and there are concerns that tightening financial conditions are putting pressure on yields," said Ian Lyngen, senior government bond strategist at CRT (Shanghai: 600125.SS - news) Capital (Other OTC: CGHC - news) in Stamford, Connecticut.

The numbers out of China follow a U.S. Labor Department report on Friday that wages rebounded strongly in January, adding to bets that the Federal Reserve may increase interest rates this year, further fueling a flight to safety by investors.

In addition to U.S. Treasuries, investors turned to other safe assets including German Bunds, silver and gold.

"The risk-off tone in the market is also being seen in the increased bid for gold and silver today," said Lederer.

Benchmark 10-year notes were last up 1-00/32 in price to yield 1.738 percent, down from 1.848 percent on Friday.

The 30-year bond was last up 2-16/32 in price to yield 2.564 percent, down from 2.681 percent late on Friday. (Reporting by Tariro Mzezewa; Editing by Dan Grebler and Steve Orlofsky)