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PRECIOUS-Gold dips as dollar holds firm, set for a weekly decline

    Oct 16 (Reuters) - Gold prices inched lower on Friday, on
track for its first weekly decline in three, as the dollar held
firm and U.S. stimulus talks showed no progress. 
    
    FUNDAMENTALS
    * Spot gold        fell 0.1% to $1,906.39 per ounce by 0052
GMT. It is down 1.2% for the week so far, having posted two
straight weekly gains. 
    * U.S. gold futures        were up 0.1% at $1,910.60.
    * The dollar index        was steady near a two-week peak
hit in the previous session. The greenback was headed for its
first weekly gain in three.       
    * U.S. President Donald Trump said on Thursday he was
willing to raise his offer of $1.8 trillion for a COVID-19
relief deal with Democrats in Congress, but the idea was shot
down by his fellow Republican, Senate Majority Leader Mitch
McConnell.             
    * The number of Americans filing new claims for jobless
benefits rose to a two-month high last week, stoking fears the
pandemic was inflicting lasting damage to the labour market.
            
    * Wisconsin and other states in the U.S. Midwest and beyond
are battling surges in COVID-19 cases, with new infections and
hospitalisations rising to record levels.             
    * The European Union put the onus on Britain to compromise
on their new economic partnership or stand ready for trade
disruptions in less than 80 days. British Prime Minister Boris
Johnson will respond and set out his approach to the talks on
Friday.             
    * Holdings in SPDR Gold Trust      , the world's largest
gold-backed exchange-traded fund, fell 0.15% to 1,276.06 tonnes
on Thursday.             
    * Silver        fell 0.2% to $24.26 per ounce, while
platinum        rose 0.2% to $866.05. Palladium        was up
0.3% at $2,358.58. 
    
    DATA/EVENTS (GMT)
    0900  EU  HICP Final MM, YY         Sept
    1230  US  Retail Sales MM           Sept
    1315  US  Industrial Production MM  Sept
    1400  US  U Mich Sentiment Prelim   Oct

 (Reporting by Eileen Soreng in Bengaluru; editing by
Uttaresh.V)
  
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