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PRECIOUS-Gold holds steady as virus wave offsets vaccine hopes

    Nov 13 (Reuters) - Gold prices were little changed on
Friday, as fears of an economic impact due to a surge in global
cases of COVID-19 countered optimism from the developments in a
potential vaccine. 

    FUNDAMENTALS
    * Spot gold        was steady at $1,876.92 per ounce by 0044
GMT. It was headed for its worst weekly performance since
late-September, declining 3.8% so far. 
    * U.S. gold futures        were up 0.1% at $1,874.50.
    * The dollar index        held steady but was on track for a
0.7% weekly gain.        
    * The heads of the Federal Reserve and the European Central
Bank welcomed the encouraging results in trials of a vaccine
candidate for COVID-19 but stressed that the economic outlook
will remain uncertain.                          
    * The number of Americans filing new claims for unemployment
benefits fell to a seven-month low last week, but the pace of
decline has slowed and further improvement could be limited by
higher infections and lack of additional fiscal stimulus.
            
    * Top Democrats in U.S. Congress urged renewed negotiations
over a multitrillion-dollar coronavirus aid proposal, but a top
Republican immediately rejected their approach as too expensive.
            
    * European officials warned against COVID-19 complacency and
said measures to control a surge in infections must continue.
                         
    * More than a dozen U.S. states have doubled their COVID-19
case loads in the last 14 days, compared with the previous
two-week period, while the global tally has crossed 52.45
million.                          
    * The London Bullion Market Association is threatening to
stop bullion from countries including the United Arab Emirates
entering the mainstream market if they fail to meet regulatory
standards, a letter seen by Reuters showed.             
    * Silver        rose 0.1% to $24.26 per ounce. Platinum
       was steady at $879.26, while palladium        was 0.2%
higher at $2,334.99. 
    
    DATA/EVENTS (GMT)
    1000  EU      GDP Flash Estimate QQ, YY   Q3
    1500  US      U Mich Sentiment Prelim     Nov
    

 (Reporting by Eileen Soreng in Bengaluru; editing by
Uttaresh.V)
  
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