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PRECIOUS-Gold prices firm as dollar eases after Biden win

    Nov 9 (Reuters) - Gold prices edged higher in early Asian
trade on Monday, propped up by a weaker dollar and hopes of more
stimulus measures under U.S. President-elect Joe Biden. 

    FUNDAMENTALS
    * Spot gold        rose 0.1% to $1,953.45 per ounce by 0049
GMT. On Friday it hit $1,960.13, the highest since Sept. 18. 
    * U.S. gold futures        rose 0.2% to $1,955.60 per ounce.
    * The dollar index        was hovering near a more than
two-month low.       
    * Biden and his advisers are working on plans to tackle the
crises facing a divided America, first and foremost the raging
pandemic, a day after the Democrat won enough states to clinch
the U.S. presidency.             
    * A potentially divided U.S. government with Republicans in
control of the Senate may mean a smaller fiscal stimulus
package, but that could put the spotlight on the Federal Reserve
to do more to revive the economy.                          
    * Gold tends to benefit from widespread stimulus as it is
considered a hedge against inflation. 
    * Labour Department's employment report on Friday showed the
U.S. economy created the fewest jobs in five months in October
and more Americans are working part time.             
    * Global COVID-19 infections exceeded 50 million on Sunday,
according to a Reuters tally.                          
    * Significant differences remain in talks over a trade deal
between Britain and the European Union, both sides said, as they
promised to step up efforts to find an agreement.             
    * Holdings in SPDR Gold Trust      , the world's largest
gold-backed exchange-traded fund, rose 0.63% to 1,260.30 tonnes
on Friday.             
    * Speculators cut their net long position in COMEX gold by
9,657 contracts to 121,951 in week to Nov. 3, the U.S. Commodity
Futures Trading Commission (CFTC) said on Friday.             
    * Silver        rose 0.5% to $25.72 per ounce. Platinum
       gained 0.8% to $896.04, while palladium        fell 0.4%
to $2,480.76. 
   

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