May 13 (Reuters) - Gold prices edged higher on Monday, as weak U.S. employment figures boosted bets of an interest rate cut from the Federal Reserve.
FUNDAMENTALS
* Spot gold was up 0.1% at $2,361.69 per ounce, as of 0021 GMT. Bullion prices hit a more than two-week high on Friday.
* U.S. gold futures fell 0.3% to $2,368.10.
* Data last week showed that the number of Americans filing new claims for unemployment benefits increased more than expected, offering more evidence that the labour market was steadily cooling.
* Financial markets expect the U.S. central bank to start its easing cycle in September. Lower interest rates reduce the opportunity cost of holding gold.
* Investors are now looking forward to the U.S. producer price index and consumer price index data due this week, both of which could significantly impact gold and silver prices.
* Elsewhere, Israel sent tanks into eastern Jabalia in the northern Gaza Strip on Sunday after a night of heavy aerial and ground bombardments, killing 19 people and wounding dozens of others.
* China's consumer prices rose for a third straight month in April, while producer prices extended declines, signalling an improvement in domestic demand, as Beijing navigates challenges in its bid to shore up a shaky economy.
* South African diversfied miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, after weak platinum group metal (PGM) prices drove earnings 72% lower in the March quarter.
* Spot silver rose 0.2% to $28.20 per ounce, platinum fell 0.3% to $991.53 and palladium lost 0.6% to $971.71.
DATA/EVENTS (GMT)
No major data or events on Monday May 13. (Reporting by Sherin Elizabeth Varghese in Bengaluru; Editing by Sherry Jacob-Phillips)
