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Gold has gained nearly 27% this year

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US jobs data, December Fed meeting minutes due next week

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Platinum hit over three-month low on Friday

(Updates with US morning trading)

By Sherin Elizabeth Varghese

Dec 30 (Reuters) - Gold prices dipped in thin trade on

Monday as traders awaited fresh catalysts, including next week's

U.S. economic data that could influence the Federal Reserve's

2025 interest-rate outlook, as well as policies from incoming

President Donald Trump.

Spot gold fell 0.6% to $2,603.89 per ounce as of

10:19 a.m. ET (1518 GMT). U.S. gold futures were down

0.6% at $2,615.70.

"I think it's just the holiday thin trade. Perhaps some

squaring of the books before year-end," said Peter Grant, vice

president and senior metals strategist at Zaner Metals.

Geopolitical tensions are expected to remain high into next

year, with central banks continuing to buy gold, while the U.S.

debt situation is likely to worsen and the deficit to grow under

the Trump administration, fuelling ongoing safe-haven demand for

the metal, Grant said.

Gold has surged nearly 27% this year, reaching a record high

of $2,790.15 on Oct. 31, as investors sought the yellow metal

amid geopolitical uncertainty and U.S. rate cuts.

Anticipation of major U.S. policy shifts in 2025, including

potential tariffs, deregulation and tax changes, has grown as

Trump prepares to take office in January.

Earlier this month, Fed Chair Jerome Powell signalled a

cautious stance on further rate cuts after delivering a

quarter-point reduction, aligning with market expectations.

A slew of U.S. economic data due next week includes job

openings figures, the ADP employment report, the Fed's December

FOMC minutes, and the U.S. employment report, to gauge the

health of the economy.

Bullion is considered a hedge against inflation and turmoil

but high rates reduce the appeal of holding the non-yielding

asset.

Spot silver lost 1.4% at $28.95 per ounce, platinum

fell 1.8% to $903.00, having hit an over three-month low

on Friday.

Palladium edged 0.8% lower at $904.01.