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PRECIOUS-Gold inches up on weaker dollar

    Aug 18 (Reuters) - Gold prices edged up on Tuesday on the
back of a weaker dollar, although gains were capped by a rally
in U.S. equities and signs of a recovery in global economic
activity.
                                   
    FUNDAMENTALS   
    * Spot gold        edged up 0.1% to $1,987.51 per ounce by
0114 GMT. 
    * U.S. gold futures        eased 0.3% to $1,993.30 per
ounce.
    * The dollar was down 0.2% at an over one-week low, making
gold cheaper for those holding other currencies.              
    * Asian markets were set to track Wall Street's
technology-driven rally. The Nasdaq hit a record high on Monday,
while S&P 500 reached close to its record level.            
    
    * Indicative of the beginnings of a recovery from the
pandemic, Japan's manufacturers were at their least pessimistic
in four months in August, a survey of business sentiment showed.
            
    * Germany's economy is set for a rapid growth over the
summer months, but a coronavirus vaccine may be necessary before
a complete rebound is possible, the country's central bank said
on Monday.              
    * Investors now await the minutes from the U.S. Federal
Reserve's last policy meeting due for release on Wednesday.
            
    *  Over 21.81 million people have been reported to be
infected by the coronavirus globally and 770,518​ have died,
according to a Reuters tally.             
    * U.S. President Donald Trump on Monday promised tax credits
for firms who relocate manufacturing facilities to the United
States from China.             
    * Trump's administration also stated it will further tighten
restrictions on Chinese telecommunications firm Huawei.
            
    * SPDR Gold Trust      , the world's largest gold-backed
exchange-traded fund, said its holdings rose 0.33% to 1,252.38
tonnes on Monday.          
    * Silver        climbed 1% to $27.69 per ounce, and platinum
       rose 0.9% to $957.73. Palladium        fell 1.2% to
$2,172.80.    
    
    DATA/EVENTS (GMT)
1230  US   Housing Starts Number   July

 (Reporting by Harshith Aranya in Bengaluru; Editing by Aditya
Soni)
  
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