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PRECIOUS-Gold rises 1% on dollar weakness, economic uncertainty

    * Dollar down against major currencies
    * U.S. to get stimulus no matter who wins the election-
analyst
    * Interactive graphic tracking global spread of coronavirus:
here

 (New throughout, updates prices, market activity and comments)
    By Sumita Layek
    Oct 14 (Reuters) - Gold gained 1% on Wednesday, rebounding
from a sharp decline in the previous session, boosted by a
weaker dollar and uncertainties surrounding the U.S. election
and global economic recovery boosted the safe haven metal's
allure.
    Spot gold        was up 0.7% to $1,903.20 per ounce by 1:46
p.m. EDT (1746 GMT). U.S. gold futures        settled up 0.7% to
$1,907.30.
    "The dollar index is down on the day, yields are lower which
is supporting gold and we're also seeing some technical buying
probably because yesterday's correction was a little overdone,"
said Bart Melek, head of commodity strategies at TD Securities.
    The dollar        was down against major currencies, while
the benchmark 10-year Treasury yield also fell.             
    Bullion dipped as much as 1.9% on Tuesday after the
greenback rallied on an impasse over U.S. stimulus.             
    "We're going to get a stimulus no matter who wins the
elections - Democrats or Republicans ... the fact of the matter
is the U.S. needs a stimulus package, although it looks doubtful
that we'll get one in any meaningful way before the elections,"
Melek added.
    Gold, considered a hedge against inflation and currency
debasement, has climbed 25% this year amid the unprecedented
levels of global stimulus to ease the economic blow from the
pandemic. 
    Investors also kept an eye on the U.S. presidential
campaign, with polls showing Democratic candidate Joe Biden
leading the race, but many remained worried about the potential
for a delayed election result.                         
    "The $1,900 an ounce level has been a battle ground for
gold," said Eli Tesfaye, senior market strategist at RJO
Futures.
    "The market has tried to take it below that level several
times but the bears have been overcome by demand from the
uncertainty in the upcoming U.S. elections, stimulus and
Brexit." 
    Elsewhere, silver        rose 0.5% to $24.30 per ounce,
platinum        fell 0.7% to $859.30 and palladium        gained
1.2% to $2,342.32.

 (Reporting by Sumita Layek in Bengaluru; Editing by Sandra
Maler, Marguerita Choy and David Gregorio)
  
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