for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

PRECIOUS-Gold gains as dollar stalls, with focus on U.S. data

    * Gold down 1.4% this week, silver 2.6%
    * Platinum on track for biggest weekly decline since June
    * Dollar heads for its strongest week since May
    * Interactive graphic tracking global spread of the
coronavirus: tmsnrt.rs/3aIRuz7
 in an external browser

 (Updates prices)
    By Diptendu Lahiri and Nakul Iyer
    Sept 4 (Reuters) - Gold rose on Friday as the dollar's rally
stalled, with investor focus turning to U.S. jobs data later in
the day, though bullion was still down over the week.
    Spot gold        was up 0.4 % at $1,937.96 an ounce by 1137
GMT.
    But the metal was still on course for a 1.4% decline over
the week, driven by earlier gains in the dollar coupled with
some upbeat data including robust manufacturing figures from the
United States and elsewhere, which kindled hopes for a fast
revival from the COVID-19 pandemic-induced economic slump. 
    U.S. gold futures        rose 0.4% to $1,945.70 an ounce.
    "The job report will set the stage for all asset classes,"
said Saxo Bank analyst Ole Hansen.
    "If the equity markets close on a weaker note after the
report, and given the U.S. is heading into a long weekend, we
might see some strength in gold."
    The dollar index        steadied, taking a breather from a
rally that set the greenback on track for its best week since
mid-May.       
   "Since the recovery, movement in USD has stopped for the
moment. That is a positive element for gold," said ActivTrades
chief analyst Carlo Alberto De Casa.
    A weaker dollar makes gold cheaper for holders of other
currencies.
    Global equities edged lower as attention turned to the U.S.
non-payroll figures due at 1230 GMT, with markets expecting
payrolls to have grown by 1.4 million in August, compared with
1.763 million jobs created the previous month.              
    Gold, which has gained 27% this year, is still strong but
"in need of a deeper correction", Saxo bank's Hansen said.
    Elsewhere, silver        gained 0.6% to $26.78 an ounce but
has shed 2.6% over the week, while palladium        dipped by
0.1% to $2,282.67. 
    Platinum        rose 1.6% to $903.38 an ounce but was on
track for its worst week since mid-June, down more than 2.8%.

 (Reporting by Nakul Iyer and Diptendu Lahiri in Bengaluru
Editing by Mark Potter and David Goodman)
  
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up