* Dollar hovers near one-month low * Gold facing resistance at $1,830 - analyst (Recasts, adds analyst comments, updates prices) Sept 6 (Reuters) - Gold prices held steady near a 2-1/2-month peak on Monday after disappointing U.S. jobs data raised hopes the Federal Reserve could wait a bit longer to pare stimulus measures, bolstering bullion’s appeal as an inflation hedge. Spot gold was steady at $1,826.82 per ounce as of 0333 GMT. In the previous session, prices hit their highest since June 16 at $1,833.80. U.S. gold futures eased 0.2% to $1,829.50. Gold is being supported by the notion that the Fed will be slower to taper than previously thought, and a weak U.S. dollar, said IG Market analyst Kyle Rodda. “We are seeing a little bit of resistance at $1,830 emerge.” Labor Department data showed on Friday U.S. nonfarm payrolls increased by 235,000 jobs last month, below economists’ expectations, as hiring in the leisure and hospitality sector stalled amid a resurgence in COVID-19 infections. Fed Chair Jerome Powell had hinted last month that reaching full employment was a pre-requisite for the central bank to start paring back its asset purchases. Some investors view gold as a hedge against inflation that may follow stimulus measures, while lower interest rates reduce the opportunity cost of holding non-yielding bullion.“We expect this upward momentum for gold to continue, which has already been rallying prior to this poor jobs print. The target for gold is expected at $1,900/oz in the near term,” OCBC Bank economist Howie Lee said in a note. Friday’s data pushed the dollar index to its lowest level since Aug. 4. Investors expect the European Central Bank later this week to announce a cut to the pace of its emergency bond purchases from next quarter. Silver rose 0.1% to $24.72 per ounce. Prices rose 3.4% in the previous session, its biggest one-day percentage gain since early May. Platinum fell 0.5% to $1,020.75, while palladium rose 0.3% to $2,430.65. (Reporting by Eileen Soreng in Bengaluru; Editing by Sherry Jacob-Phillips and Ramakrishnan M.)
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