Dec 2 (Reuters) - Gold prices slipped on Monday, snapping a four-session rally as the dollar firmed, while market participants awaited key U.S. economic data for clues on the Federal Reserve's monetary policy outlook.

FUNDAMENTALS

* Spot gold fell 0.7% to $2,633.86 per ounce, as of 0047 GMT. U.S. gold futures edged 0.9% lower to $2,656.40.

* The dollar index rose 0.4%, making bullion costlier for other currency holders.

* Key U.S. data due this week includes U.S. job openings, the ADP employment report and payrolls report.

* According to the CME Group's FedWatch Tool, markets currently see a 65.2% chance of a 25-basis-points reduction by the Fed in December.

* The bullion declined over 3% in November and registered its worst monthly performance since September 2023, as traders expect the prospect of higher tariffs under the Trump administration to keep interest rates higher for longer.

* Data released last week showed progress in lowering U.S. inflation appears to have stalled in the past months, suggesting the Fed may proceed cautiously with further cuts.

* Gold is considered a hedge against inflation but higher rates dull the appeal of holding the non-yielding asset.

* Elsewhere, physical gold premiums were steady in India last week, as a rise in demand from the previous week's price correction was later countered by higher rates, while demand in other major Asian hubs and top consumer China remained subdued.

* Spot silver shed 0.7% to $30.40 per ounce, platinum

fell 0.4% to $942.25 and palladium fell 0.8% to 971.21.

DATA/EVENTS (GMT)

0030 Japan JibunBK Mfg PMI Final SA Nov 0145 China Caixin Mfg PMI Final Nov 0700 UK Nationwide House Price MM Nov 0700 UK Nationwide House Price YY Nov 0850 France HCOB Manufacturing PMI Nov 0855 Germany HCOB Mfg PMI Nov 0900 EU HCOB Mfg Final PMI Nov 0930 UK S&P Global Manufacturing PMI Nov 1000 EU Unemployment Rate Oct 0445 US S&P Global Mfg PMI Final Nov 1500 US ISM Manufacturing PMI Nov

(Reporting by Rahul Paswan in Bengaluru; Editing by Rashmi Aich)

((RahulKumar.Paswan@thomsonreuters.com ; If within U.S. +1 646 223 8780;;))