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Dec 3 Reuters Gold prices edged higher on Tuesday, supported by U.S. rate cut bets and geopolitical concerns, while the focus shifted to economic data due this week for clues into the Federal Reserve39;s interest rate path.

Spot gold was up 0.1 at 2,640.65 per ounce, as of 0810 GMT, after falling by as much as 1 on Monday. U.S. gold futures were 0.2 higher at 2,663.40.

U.S. data this week includes the job openings due later on Tuesday, the ADP employment report on Wednesday, and the payrolls report on Friday.

The next big thing is going to be the payrolls on Friday night because it39;ll tell us whether the Fed is essentially going to greenlight the interest rate cut in a couple of weeks, said Kyle Rodda, financial market analyst at Capital.com.

Fed Governor Christopher Waller on Monday said, with inflation still forecast to fall to 2, he is inclined at present to support another rate cut later this month.

The comments boosted expectations of a rate cut at the Fed39;s Dec. 1718 meeting to nearly 75 compared from 66 a day before.

It seems we39;re just oscillating in one place until a new trigger emerges, said Ilya Spivak, head of global macro at Tastylive.

Nonyielding gold tends to thrive in a lowinterestrate environment and during periods of geopolitical turmoil.

Driving…