Gold at over one-week low on firm dollar, US payrolls data awaited

Gold prices eased to their lowest in more than a week on Tuesday, pressured by a firm dollar, while investors awaited U.S. non-farm payrolls data that could determine the size of the potential cut in the Federal Reserve's September policy meeting.

Spot gold fell 0.4% to $2,490.44 per ounce by 1:52 a.m. ET (1752 GMT).U.S. gold futures settled 0.2% lower to $2,523.00.

The dollar rose 0.2%, hitting a two-week high, making gold more expensive for other currency holders.

"We see evidence that speculative positioning in gold is effectively maxed out for the time being..I think the level to which gold is seeing pressure from the rise in the dollar reflects our view on positioning," said Daniel Ghali, commodity strategist at TD Securities.

Focus will be on Friday's U.S. payrolls report along with ISM surveys, JOLTS job openings and the ADP employment report due later this week.

Markets are pricing in a 63% chance of a 25 basis point (bps) cut when the Fed meets on Sept. 17 and 18, with a 37% probability of a 50-bps cut, the

Spot silver dipped 1.8% to $27.99, platinum fell 2.2% to $909.55 and palladium lost nearly 4% to $941.00.

• Business