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PRECIOUS-Gold dips as Mnuchin stems Fed's pandemic lending program

    Nov 20(Reuters) - Gold prices fell on Friday, weighed by
uncertainty over more U.S. stimulus measures after Treasury
Secretary Steven Mnuchin said key pandemic lending programs at
the Federal Reserve would expire by the end of the year.
    
    FUNDAMENTALS
    * Spot gold        fell 0.2% to $1,863.21 per ounce by 0110
GMT and was headed for the second week of declines. 
    * U.S. gold futures        were flat at $1,862.60.
    * In a letter to Fed Chair Jerome Powell, Mnuchin said the
$455 billion allocated to Treasury under the CARES Act last
spring, which supports Fed's lending to businesses, nonprofits
and local governments, should be instead available for Congress
to reallocate.             
    * U.S. Senate Democratic leader Chuck Schumer said on
Thursday that Republican Majority Leader Mitch McConnell had
agreed to resume COVID-19 relief talks as cases surge across the
country, CNBC reported.             
    * The number of Americans filing first-time claims for
jobless benefits rose last week, likely as new business
restrictions to control the pandemic unleashed a fresh wave of
layoffs, which could further slow the labor market recovery.
                         
    * The flow of gold from east to west triggered by the
pandemic eased in October as Switzerland's imports of bullion
from Asia fell and it exported more to India than in any month
since May 2019, Swiss customs data showed on Thursday.
            
    * Holdings in SPDR Gold Trust       fell 0.14% to 1,217.25
tonnes on Thursday.             
    * Silver        fell 0.1% to $24.06 per ounce. Platinum
       was down 0.2% to $949.88 per ounce, while palladium
       eased 0.1% to $2,322.00. 
    
    DATA/EVENTS (GMT)
    0700  UK  Retail Sales MM, YY      Oct
    0700  UK  Retail Sales Ex-Fuel MM  Oct
    1500  EU  Consumer Confid. Flash   Nov

 (Reporting by Eileen Soreng in Bengaluru; Editing by
Ramakrishnan M.)
  
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