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PRECIOUS-Gold slips as Trump's doctors hint at discharge on Monday

    * Spot gold biased to fall to $1,877/oz - technicals
    * Interactive graphic tracking global spread of coronavirus:
here

 (Updates prices)
    By Eileen Soreng
    Oct 5 (Reuters) - Gold prices dipped on Monday, as White
House suggestions that U.S. President Donald Trump was
"responding well" to COVID-19 treatment propped up sentiment
globally, while pulling money out of the traditional security of
bullion.
    Spot gold        fell 0.5% to $1,889.56 per ounce by 0743
GMT.    
    U.S. gold futures        were down 0.8% at $1,892.80.
    Positive reports on President Trump's health is helping
sentiment while pressuring gold, said Harshal Barot, senior
research consultant for South Asia at Metals Focus, adding that
overall political uncertainty still exists in the run-up to the
U.S. elections. 
    "$1,850-$1,860 level remains a strong support level for
gold... We need a break above $1,940 for any convincing rally to
begin again." 
    Doctors treating Trump for COVID-19 said his health is
improving and he could be sent back to the White House as soon
as Monday.             
    However, outside experts warn that Trump's case may be
severe.
    The dollar index        was down 0.1% against rivals, while
stock markets rose on Trump's health update.                   
    Investors also eyed negotiations over a new U.S. coronavirus
relief aid aimed to cushion the economic blow from the pandemic.
                         
    "There is need for new stimulus measures to rally (gold)
prices. Without this mojo, there are signs of fatigue creeping
into precious metals,," Avtar Sandu, a senior commodities
manager at Phillip Futures, said in a note.
    Gold, seen as a hedge against inflation and currency
debasement, has risen about 25% this year supported by
unprecedented stimulus measures by governments and central banks
worldwide to revive their coronavirus-battered economies.
    However, it has retreated by nearly 9% from a record peak of
$2,072.50 hit in August.
    Spot gold is biased to break a support at $1,896 per ounce,
and fall to $1,877, according to Reuters technical analyst Wang
Tao.             
    Elsewhere, silver        rose 0.2% to $23.74 per ounce,
platinum        fell 1% to $873.21 and palladium        fell
0.7% to $2,293.18. 


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