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PRECIOUS-Gold steadies ahead of Trump-Biden debate

    * Spot gold may rise to $1,911/oz - technical
    * Interactive graphic tracking global spread of coronavirus:
here

 (Recasts, adds comments, updates prices)
    By Eileen Soreng
    Sept 29 (Reuters) - Gold prices steadied on Tuesday
alongside a subdued U.S. dollar, while investors awaited the
first U.S. presidential debate and further developments on a new
U.S. coronavirus relief bill.
    Spot gold        was little changed at $1,881.59 per ounce
by 0740 GMT, after gaining 1.1% in the previous session, its
biggest one-day gain since late August. 
    U.S. gold futures        were up 0.2% at $1,886.60.
    The dollar index        held steady against a basket of
currencies, following its biggest daily percentage drop in a
month on Monday.       
    A weaker dollar makes gold cheaper for holders of other
currencies.
    "There is this uncertainty in the market pertaining to the
U.S. elections and the possibility of a fresh U.S. stimulus,
given these uncertainties the overall trade in the market is
likely to be choppy," said Harshal Barot, senior research
consultant for South Asia at Metals Focus.
    "Leading up to the elections we could see this volatility
continue before (gold) market could get a definite direction on
either side."
     U.S. House of Representatives Speaker Nancy Pelosi said on
Monday that Democratic lawmakers unveiled $2.2 trillion relief
bill. But it wasn't specified when there would be a vote on the
proposal.             
    Gold, viewed as a hedge against inflation and currency
debasement, has risen over 20% this year, mainly supported by
unprecedented stimulus measures by governments and central banks
worldwide to revive their coronavirus-battered economies.
    Investors now braced for the presidential debate between
President Donald Trump and Democratic nominee Joe Biden, with
five weeks to go until the Nov. 3 general election.
    On the technical front, spot gold could break a resistance
at $1,886 and rise to $1,911 per ounce, having failed twice to
break a support at $1,855, according to Reuters technical
analyst Wang Tao.             
    Elsewhere, silver        fell 0.4% to $23.62 per ounce,
platinum        dipped 0.2% to $877.15, while palladium       
edged 0.1% to $2,257.38. 

 (Reporting by Eileen Soreng in Bengaluru; Editing by Rashmi
Aich and Sherry Jacob-Phillips)
  
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