* European stocks hit late-May lows * Dollar climbs to highest in over a week * Silver, palladium down more than 3% * Interactive graphic tracking global spread of coronavirus: tmsnrt.rs/3mvcUoa (Recasts, adds comments, updates prices) By Brijesh Patel Oct 28 (Reuters) - Gold slid more than 1% to a three-week low on Wednesday as investors opted for the dollar as a preferred refuge from concerns about rising coronavirus cases in Europe and uncertainty going into next week's U.S. presidential election. Spot gold slipped 1.3% to $1,882.41 per ounce by 1225 GMT, after hitting its lowest since Oct. 7 at $1,880.99. U.S. gold futures fell 1.6% to $1,882.20. "We have increased uncertainty related to the pandemic and the prospect of renewed lockdowns in Europe, so we have stock markets down and the dollar in response is receiving the bids," said Saxo Bank analyst Ole Hansen. That is hurting gold, he said. "Gold's break below $1,885 could trigger additional long liquidation and send the market further (down)." The rival safe-haven dollar jumped 0.7% to a more than one-week high , with the prospect of fresh lockdowns weighing heavily on the euro and European stock markets. The United States, Russia, France and other countries have registered record numbers of coronavirus infections in recent days. "With gold investors not banking on pre-election stimulus - and it may even get delayed if the U.S. elections results are contested - EURUSD levels might be a crucial bellwether for gold," said Stephen Innes, chief global market strategist at Axi, in a note. President Donald Trump on Tuesday said that an economic relief deal would likely come after the Nov. 3 election despite a rise in infections and a stalling labour market recovery. Gold, considered a hedge against inflation and currency debasement amid unprecedented global levels of stimulus, is still up about 25% so far this year. Focus was on the U.S. elections, with Democratic challenger Joe Biden leading Trump in nationwide polls. Elsewhere, silver slipped 3.4 % to $23.72 per ounce, platinum fell 1.9% to $861.74 and palladium dropped 3.2% to $2,257.84. (Reporting by Brijesh Patel in Bengaluru; Editing by Mike Harrison and Jan Harvey)
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