(Updates prices) * Focus turns to U.S. CPI data due on Wednesday * U.S. 10-year yields rise after Friday’s tumble Nov 8 (Reuters) - Gold prices slipped from a two-month high on Monday pressured by rising U.S. yields, although expectations that key central banks will keep interest rates low in the near term limited losses of the non-yielding asset. Spot gold edged down 0.08% to $1,815.20 per ounce by 1146 GMT. U.S. gold futures for December delivery dipped 0.03% to $1,816.30 per ounce. “Gold is drifting after the very strong finish on Friday... traders are still not convinced we have enough ammunition in the gold market to challenge the key area of resistance at $1,820 an ounce,” said Saxo Bank analyst Ole Hansen. Gold touched $1,821.26 earlier in the session, its highest since Sept. 7, with the precious metal ending last week about 2% higher after the Federal Reserve maintained its view inflation was transitory and as the Bank of England shocked markets by holding rates. “Yields ticking up a few basis points is potentially enough to trigger some profit taking in gold,” Hansen added. The benchmark 10-year yield rose after touching a one-and-a-half-month low in the previous session, increasing the opportunity cost of holding bullion. Gold has been benefiting from an ultra-low interest rate environment to spur growth during the pandemic. However, worries that central banks will start tightening policy to combat rising inflation have kept investors on the lookout for economic data. Tightness in the labour market combined with dislocation in global supply chains could result in another high reading for U.S. consumer prices due on Wednesday, with any upside surprise likely to rekindle talk of an earlier Fed hike. However, IG Markets analyst Kyle Rodda said, “Inflation data will have to be markedly above expectation for any sort of jolt back into the fear of higher interest rates.” Elsewhere, spot silver gained 0.04% at $24.18 per ounce. Platinum rose 0.3% to $1,037.72 per ounce. Palladium climbed 0.7% to $2,048.80 per ounce. Reporting by Amy Caren Daniel in Bengaluru; Editing by Krishna Chandra Eluri