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PRECIOUS-Gold inches higher on subdued dollar ahead of U.S. data

    May 3 (Reuters) - Gold prices ticked up on Monday, supported
by a muted dollar ahead of a series of U.S. data, while
auto-catalyst metal palladium held firm after surpassing $3,000
per ounce on concerns over supply shortage in the previous
session. 
    
    FUNDAMENTALS
    * Spot gold        was up 0.1% at $1,770.66 per ounce by
0119 GMT, U.S. gold futures        rose 0.2% to $1,770.30 per
ounce.
    * Palladium        rose 0.3% to $2,944.19 per ounce, after
scaling all time high of $3,007.73 per ounce on Friday. 
    * The dollar index        was down 0.1% against its rivals,
making gold less expensive for other currency holders.       
    * U.S. Treasury Secretary Janet Yellen on Sunday tamped down
concerns that President Joe Biden's plans for infrastructure,
jobs and families will cause inflation, saying the spending will
be phased in over a decade.             
    * U.S. consumer spending rebounded in March amid a surge in
income as households received additional COVID-19 pandemic
relief money from the government.             
    * Physical gold in India was sold at a discount last week
for the first time in 2021 as a spike in coronavirus cases
prompted strict restrictions and kept buyers away.             
    * China's gold consumption soared 93.9% in the first three
months from the same quarter a year earlier, the China Gold
Association said on Friday.             
    * Asian share markets got off to a slow start on Monday as
holidays in China and Japan crimped volumes, with investors
awaiting raft of economic data out the United States this week.
           
    * Dallas Federal Reserve Bank President Robert Kaplan on
Friday called for beginning the conversation about reducing
central bank support for the economy, warning of imbalances in
financial markets and arguing the economy is healing faster than
expected.             
    * Silver        was steady at $25.90 per ounce. Platinum
       was up 0.3% at $1,202.17. 
            
DATA/EVENTS (GMT)
0800 Euro Zone  Markit Mfg Final PMI  April
1345 U.S.  Markit Mfg PMI Final  April
1400 U.S.  Construction Spending  March
1400 U.S.  ISM Manufacturing PMI  April

 (Reporting by Shreyansi Singh in Bengaluru; Editing by Rashmi
Aich)
  
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