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RPT-PRECIOUS-Gold listless as investors weigh vaccine cheer against rising cases

 (Repeats to fix formatting of bullet points, no change to text)
    * Dollar falls to over 1-week low, global shares little
changed
    * Platinum market seen in deficit this year and next - WPIC
    * Fed's Powell says "long way to go" for economy to recover
    * Interactive graphic tracking global spread of coronavirus:
tmsnrt.rs/3mvcUoa
    * 

    By Asha Sistla
    Nov 18 (Reuters) - Gold held to a tight range on Wednesday
as investors were caught between optimism over the development
of novel coronavirus vaccines and the chances of more economic
support as the number of infections in some places surged.
    Spot gold        was little changed at $1,877.65 per ounce
by 1026 GMT, while U.S. gold futures        were down 0.5% to
$1,876.60. 
    Gold shed more than 1% on Monday after Moderna         
became the second U.S. drugmaker to announce late-stage
successful vaccine trials.             
    "On one side, optimism surrounding the latest vaccine
developments is supporting risk sentiment, weighing on
safe-haven assets. However, the rapid rise in the number of
coronavirus cases in Europe and U.S. continues to foster a sense
of unease and caution," said Lukman Otunuga, senior research
analyst at FXTM.
    Gold "is likely to derive strength from a weaker dollar in
the near term until more news on the vaccine front is revealed".
    The dollar index        fell 0.2%, making gold cheaper for
those holding other currencies.       
    "We've seen a lot of good news in terms of the (U.S.)
election passing without much disruption and the vaccine
announcement, so we're maybe seeing a little bit of fatigue and
consolidation on the back of that," said OANDA analyst Craig
Erlam.
    The rising coronavirus cases also offset the vaccine-driven
lift in global equities.                               
    Looking ahead, an expansion in the U.S. Federal Reserve's
quantitative easing programme in December may weaken the dollar
and prove a tailwind for bullion, Otunuga said. 
    Fed chair Jerome Powell said on Tuesday the central bank was
committed to using all its tools to drive an economic recovery.
             
    Gold, considered a hedge against inflation and currency
debasement, has gained more than 24% this year, benefiting from
massive global stimulus. 
    Silver        rose 0.2% to $24.51 per ounce, palladium
       was up 1% to $2,340.87. 
    Platinum        gained 0.9% to $933.53. 
    The World Platinum Investment Council projected a market
deficit in 2020 and 2021.             

 (Reporting by Asha Sistla in Bengaluru
Editing by Robert Birsel)
  
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