Gold prices tick higher on US rate cut bets
Data on Friday showed job growth in the U.S. slowed more than expected in April, while the increase in annual wages fell below 4.0% for the first time in nearly three years.
edged up for a second session on Tuesday, after recent boosted bets that the would cut later this year.FUNDAMENTALS
* Spot gold rose 0.2% at $2,327.11 per ounce, as of 0034 GMT. U.S. gold futures firmed 0.2% to $2,336.20.* Traders are pricing in a 64% chance of a Fed rate cut in September, as per 's FedWatch Tool. Lower rates increase the appeal of holding non-yielding bullion.
* Data on Friday showed in the U.S. slowed more than expected in April, while the increase in annual wages fell below 4.0% for the first time in nearly three years.
* Fed Bank of New York President John Williams said on Monday that at some undefined point the U.S. central bank will lower its interest rate target.
* Investors closely monitored the latest developments in the . Palestinian militant group on Monday agreed to a Gaza ceasefire proposal from mediators, but said the terms did not meet its demands and pressed ahead with strikes in while planning to continue negotiations on a deal.
* , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.21% to 832.19 tonnes on Monday from 830.47 tonnes on Friday.
* Spot fell 0.1% to $27.44 per ounce, platinum gained 0.5% to $958.90 and palladium rose 0.4% to $981.34.
* A private sector survey showed on Monday that China's services activity expansion slowed a touch, but growth in new orders accelerated and business sentiment rose solidly.
