PRECIOUS-Gold little changed as traders seek more data for Fed rate cues

* Soft jobs print will be bullish for gold - analyst * U.S. payrolls data due on Friday * Spot gold may fall towards $2,302 - technicals (Updates prices, graphic as of 0752 GMT) By Sherin Elizabeth Varghese June 3 (Reuters) - Gold prices were little changed on Monday as traders awaited more U.S. economic data this week after a recent report showed that inflation stabilised and lifted hopes for the Federal Reserve to cut interest rates later this year. Spot gold XAU= was nearly unchanged at $2,323.87 per ounce, as of 0752 GMT. Bullion was up nearly 2% in May. U.S. gold futures GCcv1 fell 0.1% to $2,344.40. "The short-term catalyst is going to be the jobs data and if it shows a little bit of slack building in the labor market, you know that's going be good for gold prices," said Kyle Rodda, a financial market analyst at Capital.com. Investors will look at the Institute of Supply Management's (ISM) nationwide PMI reading expected at 1400 GMT, Wednesday's ADP employment report and non-farm payrolls data due on Friday to gauge the U.S. economy's health and if it will deter the Fed from cutting rates in September. "Gold is getting a little bit of support after the marginally softer-than-expected Personal Consumption Expenditures (PCE) numbers supported the notion that the Fed can cut rates this year," Rodda said. US/ USD/ Data on Friday showed that the U.S. inflation had stabilised in April, raising bets for a rate cut in September. Traders are currently pricing in about a 53% chance of a cut in September, versus about 49% before the report. FEDWATCH While bullion is considered an inflation hedge, higher rates increase the opportunity cost of holding the non-yielding asset. Spot gold may break support at $2,319 per ounce, and fall towards $2,302, according to Reuters technical analyst Wang Tao. TECH/C Spot silver XAG= fell 0.8% to $30.14 per ounce, platinum XPT= was down 0.7% at $1,030.00 and palladium XPD= lost 1.4% to $900.30. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Spot gold price in USD per oz https://reut.rs/3X8JBh6 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Sherin Elizabeth Varghese in Bengaluru; Editing by Varun H K and Mrigank Dhaniwala) (([email protected];))