* US PCE inflation data due on Friday

* Traders price in 75% chance of Fed rate cut in June

March 25 (Reuters) - Gold prices firmed on Monday as investors positioned for key economic data and comments from Federal Reserve officials this week for further confirmation on the interest rate cuts signalled by the U.S. central bank.

Spot gold was up 0.3% at $2,171.42 per ounce, as of 1116 GMT, while silver rose 0.3% to $24.73.

U.S. gold futures climbed 0.6% to $2,172.50.

The weekly initial jobless claims print due on Thursday and the U.S. core personal consumption expenditure (PCE) price index data on Friday are on investors' radar. The market's reaction to the PCE data may only be seen next week on account of the Good Friday holiday.

"It (U.S. inflation readings) will have a significant impact. Any lower-than-expected PCE number will lead to a weaker dollar and higher gold prices and vice versa," said Kunal Shah, head of research, Nirmal Bang Commodities, Mumbai.

Lower interest rates reduce the opportunity cost of holding non-yielding bullion.

The longer-term outlook for gold remains bright due to expectations of rate cuts this year, strong central bank demand and continued geopolitical crises in Russia and the Middle East, Shah said.

Gold prices hit record peaks last week after Fed Chair Jerome Powell said the U.S. central bank is still likely to reduce rates by three-quarters of a percentage point by the end of 2024.

A slew of Fed officials are expected to speak this week.

Traders are pricing in a 75% probability of a June rate cut, according to the CME FedWatch Tool, up from 60% before the Fed's March policy meet held last week.

Among autocatalysts, platinum gained 1.2% to $904.53 and palladium climbed 2.1% to $1,006.10.

Automotive platinum group metals demand is expected to feel the pressure from battery electric vehicle sales in North American and European markets in the shorter term, Heraeus Metals said in a report.

The report followed the Biden administration slashing its target for U.S. EV adoption from 67% by 2032 to as little as 35% after industry and autoworker backlash.

(Reporting by Sherin Elizabeth Varghese in Bengaluru; Editing by Shilpi Majumdar)