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TOKYO, Aug 7 (Reuters) Gold bounced back on Monday as the dollar was stuck near two-month lows with traders betting that the Federal Reserve would not raise interest rates when it meets this week.

-- At 0046 GMT, spot gold rose to $647.50/$648.25 an ounce from $644.00/$645.50 late in New York on Friday.

-- In early Tokyo trade, the euro edged up to $1.2885 , after surging as far $1.2910 on electronic trading platform EBS on Friday, its highest since early June.

-- Gold also drew support from the fighting between Israel and the Hizbollah, after Hizbollah rockets killed 12 soldiers and at least three civilians in Israel on Sunday in the deadliest rocket barrage in the current conflict.

-- The most distant benchmark June contract on the Tokyo Commodity Exchange fell 12 yen per gram to 2,405 yen.

-- Platinum was unchanged at $1,242/$1,246 an ounce.

-- Sister metal palladium was at $322/$326 an ounce, largely unchanged from late New York's $322/$327.

-- Silver rose to $12.39/$12.46 an ounce from $12.31/$12.41 late in New York.

REUTERS PB BS0935