* 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 highon Monday pressured by rising U.S. yields, although expectationsthat key central banks will keep interest rates low in the nearterm limited losses of the non-yielding asset.Spot gold edged down 0.08% to $1,815.20 per ounce by1146 GMT. U.S. gold futures for December delivery dipped0.03% 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 thegold market to challenge the key area of resistance at $1,820 anounce," said Saxo Bank analyst Ole Hansen.
Gold touched $1,821.26 earlier in the session, its highestsince Sept. 7, with the precious metal ending last week about 2%higher after the Federal Reserve maintained its view inflationwas transitory and as the Bank of England shocked markets byholding rates.
"Yields ticking up a few basis points is potentially enoughto trigger some profit taking in gold," Hansen added.The benchmark 10-year yield rose after touchinga one-and-a-half-month low in the previous session, increasingthe opportunity cost of holding bullion.
Gold has been benefiting from an ultra-low interest rateenvironment to spur growth during the pandemic. However, worriesthat central banks will start tightening policy to combat risinginflation have kept investors on the lookout for economic data.
Tightness in the labour market combined with dislocation inglobal supply chains could result in another high reading forU.S. consumer prices due on Wednesday, with any upside surpriselikely to rekindle talk of an earlier Fed hike.
However, IG Markets analyst Kyle Rodda said, "Inflation datawill have to be markedly above expectation for any sort of joltback into the fear of higher interest rates."Elsewhere, spot silver gained 0.04% at $24.18 perounce. Platinum rose 0.3% to $1,037.72 per ounce.Palladium climbed 0.7% to $2,048.80 per ounce.