PRECIOUS-Gold edges higher ahead of US data; silver dips but stays near record high

Dec 16 (Reuters) - Gold prices edged higher on Tuesday, as investors awaited key jobs data due later in the day, while silver hovered near record highs hit last week.

FUNDAMENTALS

* Spot gold was up 0.1% at $4,304.92 per ounce, as of 0103 GMT. U.S. gold futures were steady at $4,333.20 an ounce.

* Gold has gained more than 64% this year, shattering multiple records and making it one of the best-performing assets of 2025.

* The U.S. dollar sagged to near a two-month low at the start of the Asian trading session on Tuesday. * The U.S. Federal Reserve delivered a 25-basis-point rate cut last week in a divided vote but indicated a likely pause in further reductions amid persistent inflation and an uncertain labour outlook. * Investors are currently pricing in a 76% chance that the central bank will hold rates steady in January, per CME's FedWatch tool, with this week's non-farm payrolls report expected to provide further clues on the Fed's policy path. * The U.S. Bureau of Labor Statistics on Tuesday releases its long-awaited combined employment reports for October and November, but a number of key details will be missing after the government shutdown prevented data collection, including October's unemployment rate, resulting in the first-ever gap in that critical data series. * Meanwhile, Fed Governor Stephen Miran said on Monday that current above-target inflation did not reflect underlying supply and demand dynamics that are generating price increases much closer to the central bank's 2% target, asserting that "prices are now once again stable."

* Non-yielding gold tends to benefit in a low-interest-rate environment.

* Spot silver fell 0.5% to $63.60 per ounce. It hit a record high of $64.65 on Friday before closing sharply lower.

* Silver has gained 121% since the beginning of the year on tightening inventories, strong industrial demand and its inclusion on the U.S. critical minerals list.

* Spot platinum added 0.8% to $1,797.0, while palladium lost 0.3% to $1,561.94 per ounce. (Reporting by Ishaan Arora in Bengaluru; Editing by Sherry Jacob-Phillips)