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PRECIOUS-Gold slips from one-week peak as dollar recovers

    Sept 11 (Reuters) - Gold prices fell on Friday after a sharp
rise in the previous session as the dollar regained lost ground,
although doubts over a swift global economic recovery kept
bullion on track for a weekly gain.
    
    FUNDAMENTALS
    * Spot gold        was down 0.3% at $1,947.41 per ounce by
0058 GMT, after hitting its best level since Sept. 2 at
$1,965.94 on Thursday. Gold has gained 0.8% so far this week.
    * U.S. gold futures        fell 0.5% to $1,955.30.
    * The dollar index        held firm against its rivals, 
recovering from a drop against the euro in the previous session.
A stronger greenback makes gold more expensive for holders of
other currencies.       
    * Asian markets were expected to fall on Friday in response
to declines in technology stocks that began last week and
growing concerns about another round of negotiations on the UK's
departure from the European Union.                         
    * The European Central Bank left policy unchanged on
Thursday.            
    * The U.S. Senate on Thursday killed a Republican bill that
would have provided around $300 billion in new coronavirus aid,
as Democrats seeking far more funding prevented it from
advancing.             
    * The number of Americans filing new claims for unemployment
benefits hovered at high levels last week, suggesting the labor
market recovery from the COVID-19 pandemic was stalling.
            
    * Investors now await British GDP data and U.S. inflation
numbers due later in the day for further clarity on the progress
of the global recovery from a coronavirus-induced economic
slump.
    * Silver        fell 0.3% to $26.84 per ounce, platinum
       eased 0.1% to $925.59 and palladium        lost 0.4% to
$2,283.72.

    DATA/EVENTS (GMT)
0600  UK        GDP Est 3M/3M            July
0600  UK        GDP Estimate MM, YY      July
0600  UK        Manufacturing Output MM  July
1230  US        CPI MM, SA               Aug

 (Reporting by Brijesh Patel in Bengaluru; Editing by Devika
Syamnath)
  
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