PRECIOUS-Gold gains as traders bet delayed U.S. data will strengthen rate cut outlook

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US Senate passes bill to end shutdown

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Gold price highest since October 23

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Fed's Miran suggests 50 basis-point rate cut in December

(Rewrites for AMERS early-morning trading)

By Noel John and Pablo Sinha

Nov 11 (Reuters) - Gold prices hit a near three-week high on Tuesday, bolstered by expectations that a potential end to the U.S. government shutdown and resumption of economic data could set the stage for the Federal Reserve to trim interest rates next month.

Spot gold was up 0.3% at $4,127.12 per ounce at 09:47 a.m. ET (1447 GMT), having earlier hit its highest since October 23.

U.S. gold futures for December delivery rose 0.3% to $4,133.20 per ounce.

Gold, traditionally considered a safe haven, also tends to benefit in low-interest rate environments as it is a non-yielding asset.

"Traders believe (data) will show some weakening economic numbers and that would prompt the Fed to cut interest rates in December... that is probably encouraging the gold and silver market bulls today," said Jim Wyckoff, senior analyst at Kitco Metals.

The U.S. Senate on Monday approved a compromise that would end the longest government shutdown on record. The shutdown has triggered a data blackout, leaving policymakers and markets without key indicators on jobs and inflation.

The central bank trimmed rates at its latest meeting, but Chair Jerome Powell stressed that another cut this year is far from certain. Markets see a 64% chance of a rate cut in December, CME's FedWatch Tool showed.

Data last week showed the U.S. economy shed jobs in October, while consumer sentiment slumped to its lowest level in three and a half years in early November.

Meanwhile, Fed Governor Stephen Miran on Monday suggested that a 50 basis-point cut might be appropriate for December, given softening labor market and falling inflation. Gold demand this year and next is expected to reach its strongest level since 2011, UBS said in a note.

"Any significant rise in political and financial market risks could push gold toward our upside target of USD 4,700/oz," they added.

Elsewhere, spot silver gained 0.6% to $50.83 per ounce, its highest level since October 21. Platinum was steady at $1,578.02 and palladium climbed 0.6% to $1,423.25.

(Reporting by Noel John, Pablo Sinha and Kavya Balaraman in Bengaluru)