Please use symbol entry at top right of page to search

PRECIOUS-Gold prices inch higher on softer dollar

Dec 5 (Reuters) - Gold prices edged up on Monday and hovered near the key $1,800-level, as a softer U.S. dollar made the greenback-priced bullion cheaper for buyers holding other currencies.

FUNDAMENTALS

* Spot gold rose 0.1% to $1,800.02 per ounce as of 0027 GMT. Prices hit their highest level since Aug. 10 at $1,804.46 in the previous session.

* U.S. gold futures were up 0.2% at $1,812.60.

* The dollar index was down 0.1%.

* U.S. employers hired more workers than expected in November and increased wages, shrugging off mounting worries of a recession, but that will probably not stop the Federal Reserve from slowing the pace of its interest rate hikes starting this month.

* Lower interest rates tend to be beneficial for gold as it reduces the opportunity cost of holding the non-yielding asset.

* The London Bullion Market Association(LBMA) is creating a database of Russian gold bars held by banks in London to help prevent sanctions evasion by Russian companies or the Russian central bank, the industry group said on Friday.

* Physical gold demand stalled in India last week on higher prices, while premiums fell in top consumer China as COVID-19 restrictions dulled activity.

* Spot silver gained 0.5% to $23.25, platinum rose 0.8% to $1,022.74 and palladium edged up 0.5% to $1,908.32.

DATA/EVENTS (GMT)

0030 Japan JibunBK Comp Op Final SA Nov

0030 Japan JibunBK SVC PMI Final SA Nov

0145 China Caixin Services PMI Nov

0850 France S&P Global Serv, Comp PMIs Nov

0855 Germany S&P Global Serv PMI Nov

0855 Germany S&P Global Comp Final PMI Nov

0900 EU S&P Global Serv, Comp Final PMIs Nov

0930 UK Composite PMI Final Nov

0930 UK Reserve Assets Total Nov

1445 US S&P Global Serv, Comp Final PMIs Nov

1500 us Factory Orders Oct

1500 US ISM N-Mfg PMI Nov (Reporting by Ashitha Shivaprasad in Bengaluru; editing by Uttaresh.V)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.