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PRECIOUS-Gold ticks up as dollar eases from one-week high

    Sept 7 (Reuters) - Gold prices edged higher on Monday as the
dollar slipped, with  weak economic data out of the United
States at the end of last week raising fears over the global
economic recovery from the COVID-19 slump.
    
    FUNDAMENTALS
    * Spot gold        was up 0.2% at $1,935.53 per ounce by
0045 GMT, after falling to a one-week low of $1,916.24 on
Friday.
    * U.S. gold futures        rose 0.4% to $1,941.10.
    * U.S. employment growth slowed further in August and
permanent job losses increased as money from the government
started running out, raising doubts on the sustainability of the
economy's recovery from the deep COVID-19 recession.            
    * There are reports of more than 26.97 million cases of the
novel coronavirus globally and 879,675​ people have died,
according to a Reuters tally.             
    * U.S. Treasury Secretary Steven Mnuchin said on Sunday a
deal between the White House and Congress would fund the federal
government through the beginning of December and that details of
the spending bill should be finalised by week's end.
            
    * The dollar index        was off from a one-week high hit
in the previous session. A weaker greenback makes gold less
expensive for holders of other currencies.       
    * Asian shares started Monday on the backfoot as investors
grapple with sky-high valuations against a dour economic
backdrop with the coronavirus pandemic driving world economies
into a long and deep recession.            
    * Speculators raised their bullish positions in COMEX gold
and silver contracts in the week to Sept. 1, the U.S. Commodity
Futures Trading Commission said on Friday.        
    * Retail demand for physical gold picked up slightly in
India last week on a dip in domestic prices and a festival, but
top bullion hubs across Asia saw muted activity.         
    * Silver        eased 0.2% to $26.84 per ounce, platinum
       rose 0.6% to $900.01 and palladium        was steady at
$2,296.54.

 (Reporting by Brijesh Patel in Bengaluru; Editing by Subhranshu
Sahu)
  
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