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PRECIOUS-Gold eases as dollar firms, risk appetite gains

    * Dollar rises to near one-week high
    * Traders eye U.S. initial jobless claims on Nov. 12
    * Fed policymakers suggest more specific fiscal support
    * Interactive graphic tracking global spread of coronavirus:
tmsnrt.rs/3mvcUoa

 (Adds analyst comments and updates prices)
    By Asha Sistla
    Nov 11 (Reuters) - Gold eased on Wednesday on a firmer
dollar and market optimism over a potential COVID-19 vaccine,
but bets for continued monetary support to revive a pandemic hit
economy capped bullion's declines. 
    Spot gold        fell 0.3% to $1,870.20 per ounce by 1307
GMT, while U.S. gold futures        slipped 0.4% to $1,868.70. 
    The dollar, considered a rival safe-haven, rose 0.3% to a
near one-week high, against a basket of currencies.       
    "The (gold) market is very, very cautious. That's why, the
moment there's news out or the dollar strengthens, the market
goes with it," said Afshin Nabavi, senior vice president at
precious metals trader MKS SA, adding that moves were also
limited by the Veteran's Day holiday in the United States.
    "The central banks will need to continue to make money to
throw in the streets so that the system doesn't fall apart... So
until we don't break (below) $1,820, it again feels like gold
may want to test $1,900." 
    Gold fell as much as 5.2% on Monday after drugmaker Pfizer
        said its COVID-19 vaccine was more than 90% effective
based on initial trial results, with the resultant optimism
continuing to fuel a strong run in equities.                   
            
    But the breakthrough highlighted the logistical challenges
of distributing hundreds of millions of doses once it becomes
available.              
    The news has slightly reduced the need for stimulus but the
vaccine is not yet available, said Quantitative Commodity
Research analyst Peter Fertig.
    Non-yielding gold has risen about 23% so far this year,
supported mainly by near-zero interest rates and unprecedented
global stimulus, since it's considered a hedge against likely
inflation and currency debasement. 
    Federal Reserve policymakers on Tuesday highlighted the need
for more targeted fiscal support from the government.
            
    Investors now await U.S. weekly jobless claims on Thursday.
    Silver        was down 0.3% at $24.14 per ounce. Platinum
       fell 0.5% to $878.84, while palladium        rose 0.2% to
$2,459.61. 

 (Reporting by Asha Sistla and Nakul Iyer in Bengaluru, Editing
by Alexandra Hudson and Louise Heavens)
  
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