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PRECIOUS-Gold gains on dollar slide as U.S. election drags on

    * Dollar set for worst week since March
    * Silver set for best week since early Aug 
    * U.S. non-farm payrolls data due at 1330 GMT
    * FACTBOX-Who is winning the U.S. election?             

 (Updates prices, adds analyst comment)
    By Asha Sistla
    Nov 6 (Reuters) - Gold rose on Friday en route to its best
week in more than three months as the dollar slid on uncertainty
surrounding the U.S. election outcome, with bets for continued
pandemic-led stimulus and accommodative monetary policy
bolstering bullion's appeal.    
    Spot gold        rose 0.2% to $1,953.21 per ounce by 1213
GMT. Prices jumped by 2.4% on Thursday, setting them up for a
3.9% weekly gain, which would be gold's best since late July. 
    U.S. gold futures        rose 0.4% to $1,954.20. 
    "The outlook for gold is positive," said Michael Hewson,
chief market analyst at CMC Markets UK, citing the political
uncertainty weighing on the dollar.
    "It could get messy ... The U.S. Federal Reserve is likely
to be much more interventionist as a result, because politicians
will be too busy squabbling, and the dollar will continue to
fall."
    The dollar held near a two-month trough, making gold more
attractive to buyers using other currencies.       
    Democrat Joe Biden edged closer to the White House, while
President Donald Trump claimed the election was being "stolen"
from him, even as votes were still being counted in key states.
            
    Analysts see the prospects of a prompt stimulus package
fading because of a divided Congress, driving expectations that
the U.S. Federal Reserve might need to fill the gap.
                         
    "The macro environment is supportive for gold because no
matter what the (election) outcome, monetary policy is likely to
stay supportive and accommodative because economic activity
remains fragile due to the rising COVID-19 numbers," said Bank
of China International analyst Xiao Fu.
    Near-zero interest rates amid massive stimulus globally have
helped non-yielding gold to gain more than 28% this year.
                          
    Investors awaited U.S. non-farm payrolls data later on
Friday, which is forecast to show a slight dip in job creation.
            
    In other precious metals, silver        gained 1.5% to
$25.71 an ounce. Platinum        rose 1.1% to $902.43 and
palladium        was up 0.6% at $2,390.18.

    
 (Reporting by Asha Sistla in Bengaluru
Editing by Mark Potter and David Goodman
)
  
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