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PRECIOUS-Gold muted as firmer dollar, vaccine hopes dim safe-haven appeal

    Nov 12 (Reuters) - Gold prices inched lower on Thursday,
after dropping over 1% in the previous session, pressured by a
firmer dollar and optimism over a COVID-19 vaccine related
developments bolstering risk appetite. 

    FUNDAMENTALS
    * Spot gold        fell 0.1% to $1,863.70 per ounce by 0048
GMT.    
    * U.S. gold futures        were flat at $1,862.20.
    * The dollar index        held steady near a one-week high
hit Wednesday, while Asian stocks were set to continue their
vaccine-driven gains.                   
    * President Donald Trump's campaign on Wednesday took
another step in its long-shot legal strategy to upend his
election loss with a Michigan lawsuit, while Georgia announced a
recount and President-elect Joe Biden worked on laying the
foundation of his administration.             
    * The European Central Bank will focus on more emergency
bond purchases and cheap loans for banks when it puts together
its new stimulus package next month to help the pandemic-hit
euro zone economy, ECB President Christine Lagarde said on
Wednesday.             
    * France reported 35,879 new coronavirus cases on Wednesday,
taking the total to 1.86 million, overtaking Russia and making
France the worst affected country in the European region.
            
    * Holdings of SPDR Gold Trust      , the world's largest
gold-backed exchange-traded fund, fell 0.72% to 1,240.74 tonnes
on Wednesday.             
    * Silver        fell 0.4% to $24.16 per ounce. Platinum
       was flat at $865, while palladium        rose 0.3% to
$2,321.88. 
    
    DATA/EVENTS (GMT)
    0700  Germany  HICP Final YY            Oct
    0700  UK       GDP Est 3M/3M            Sept
    0700  UK       GDP Estimate MM, YY      Sept
    0700  UK       Manufacturing Output MM  Sept
    0700  UK       GDP Prelim QQ, YY        Sept
    1200  India    Industrial Output YY     Sept
    1330  US       CPI MM, SA               Oct
    1330  US       Initial Jobless Clm      Weekly
       
    

 (Reporting by Eileen Soreng in Bengaluru; Editing by Rashmi
Aich)
  
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