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PRECIOUS-Gold falls as dollar firms ahead of U.S. election

    Nov 2 (Reuters) - Gold edged lower on Monday weighed down by
a stronger dollar, while investors awaited the outcome of
Tuesday's hotly contested U.S presidential election.   
    
    FUNDAMENTALS
    * Spot gold        fell 0.2% to $1,873.87 per ounce by 0047
GMT.     
    * U.S. gold futures        were down 0.3% at $1,875.00 per
ounce.
    * The dollar index        was 0.1% higher against a basket
of currencies, lowering gold's appeal to other currency holders.
        
    * With two days to go, Democrat Joe Biden holds a commanding
national lead over President Donald Trump, but Trump has stayed
competitive in the swing states that could decide the White
House race.                          
    * U.S. Senate Majority Leader Mitch McConnell on Friday said
that any new coronavirus aid package should be considered in
early 2021, possibly closing the door to such legislation
shortly following Tuesday's election.              
    * Europe's new COVID-19 cases have doubled in five weeks,
propelling the region on Sunday to cross the milestone of 10
million total infections, prompting countries such as Britain
and Portugal to enact fresh lockdowns.                         
    * Speculators cut their net long position by 3,702 contracts
to 131,609 in COMEX gold in the week to October 27, the U.S.
Commodity Futures Trading Commission (CFTC) said on Friday.
            
    * Holdings in the SPDR Gold Trust      , the world's largest
gold-backed exchange-traded fund, fell 0.1% to 1,257.67 tonnes
on Friday.             ]
    * Silver        fell 0.9% to $23.41 an ounce. Platinum
       dropped 1.5% to $836.37 and palladium        gained 0.2%
to $2,216.05.
   
    DATA/EVENTS (GMT)

0145  China      Caixin Mfg PMI Final       Oct
0500  India      HIS Markit Mfg PMI         Oct
0850  France     Markit Mfg PMI             Oct
0855  Germany    Markit/BME Mfg PMI         Oct
0900  EU         Markit Mfg Final PMI       Oct
0930  UK         Markit/CIPS Mfg PMI Final  Oct
1500  US         ISM Manufacturing PMI      Oct
    
    

 (Reporting by Nakul Iyer in Bengaluru; Editing by Krishna
Chandra Eluri)
  
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