Jan 9 (Reuters) - Gold prices were subdued on Thursday as rising yields and a stronger U.S. dollar weighed, while investors awaited U.S. data for clarity on the Federal Reserve's interest rate stance for 2025.

FUNDAMENTALS

* Spot gold eased 0.1% to $2,659.27 per ounce, as of 0038 GMT. U.S. gold futures rose 0.2% to $2,677.10.

* The dollar rose on Wednesday as U.S. bond yields continued their advance following a report that President-elect Donald Trump was contemplating the use of emergency measures to allow for a new tariff programme.

* The bullion hit a near four-week high in the last session after a weaker-than-expected U.S. private employment report hinted that the Fed may be less cautious about easing rates this year.

* The ADP National Employment Report showed U.S. private payrolls growth slowed sharply a month ago to 122,000 from 146,000 in November 2024.

* The market now awaits U.S. jobs report on Friday for more cues on the Fed's policy path.

* Minutes of Fed's last meeting showed policymakers agreeing that inflation was likely to continue slowing this year. They also saw a rising risk of price pressures remaining sticky, grappling with the potential effect of Trump's policies.

* Trump will take office on Jan. 20 and his proposed tariffs and protectionist policies are expected to fuel inflation.

* Bullion is considered an inflationary hedge, but high rates reduce the non-yielding asset's allure.

* Elsewhere, physically-backed gold exchange-traded funds (ETFs) registered their first inflow in four years, even though their holdings fell by 6.8 metric tons, the World Gold Council (WGC) said.

* Spot silver shed 0.3% to $30.03 per ounce, platinum

dropped 0.5% to $951.34 and palladium dipped 0.5% to $924.

DATA/EVENTS (GMT) 0130 China PPI YY, CPI YY Dec 0700 Germany Industrial Output MM Nov 0700 Germany Industrial Production YY SA Nov 1000 Germany Overall Comprehensive Risk Q1 1000 France Overall Comprehensive Risk Q1 1000 UK Overall Comprehensive Risk Q1

(Reporting by Rahul Paswan in Bengaluru; Editing by Sumana Nandy)

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