Sept 5 (Reuters) - Australian shares edged up in choppy trade on Monday, with a rise in energy and gold stocks offsetting losses from the banking and tech indexes, while investors awaited a central bank rate decision to combat pressures from soaring inflation.

The S&P/ASX 200 index rose about 0.1% by 0100 GMT. The benchmark closed 0.3% lower on Friday, and posted its worst weekly drop since mid-June.

A cooling U.S. labour market report has not deterred market participants from expecting a 75 basis point hike from the Federal Reserve to temper soaring inflationary pressures.

Moreover, local investors are awaiting the cash rate decision from the Reserve Bank of Australia on Tuesday, where it is expected to raise interest rates by 50 basis points for the fourth consecutive time, according to a Reuters poll, to combat inflation which had hit a two-decade high.

Energy stocks led the gains for the day, climbing as much as 3% in their best session in almost a week tracking higher Brent crude prices ahead of a OPEC meeting, with Woodside Energy and Santos rising 2.6% and 2.3%.

Miners, too, rose 1.2%, with the mining giants such as Rio Tinto and BHP Group Ltd and gaining 1.5% and 2.1%, despite weak steel demand sentiment from China.

Gold stocks jumped almost 2%, their biggest rise in more than a week, as sentiment for the precious metal rebounded due to a weaker dollar, with sector majors like Newcrest Mining and Northern Star Resources gaining 0.5% and 1.4%, respectively.

However, financials dropped about 0.4%, with the "Big Four" banks losing in the range of 0.3% and 0.4%, while the domestic technology stocks lost nearly 0.7%.

New Zealand's benchmark S&P/NZX 50 index fell 0.1% to 11,612.5.

(Reporting by Archishma Iyer in Bengaluru; Editing by Rashmi Aich)