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PRECIOUS-Gold slips from three-week high as dollar ticks up

    * Trump administration calls for stripped-down relief bill
    * Consolidation above $1,920/oz supportive for gold -
analyst
    * Interactive graphic tracking global spread of coronavirus:
here

 (Updates prices)
    By Brijesh Patel
    Oct 12 (Reuters) - Gold slipped from a three-week peak on
Monday as the dollar recovered some ground, but the prospect of
more U.S. coronavirus relief spending and uncertainty
surrounding next month's presidential election put a floor under
prices.
    Spot gold        was down 0.2% at $1,925.56 per ounce at
1213 GMT, after hitting its highest level since Sept. 21 at
$1,932.96 earlier in the session.
    U.S. gold futures         edged up 0.2% to $1,931.50.
    "We've seen a bit of a modest dollar rebound," said Michael
Hewson, chief market analyst at CMC Markets UK.
    "I'm still very much of the opinion that we need to buy in
the dip as, ultimately, the prospect of further stimulus post
the U.S. election is helping support gold prices," he added.
    The dollar index        rose 0.1%, crawling away from a
three-week low touched in the previous session. A stronger
dollar tends to weigh on gold by making it more expensive for
holders of other currencies.       
     Gold, which has gained over 27% so far this year, tends to
benefit from stimulus spending because it is considered a hedge
against inflation risks and currency weakening. It is also in
demand at times of heightened market uncertainty.
    The Trump administration on Sunday called on Congress to
pass a stripped-down coronavirus relief bill using leftover
funds, as negotiations on a broader package stalled ahead of the
Nov. 3 presidential election.             
    "We are in a wait-and-see scenario, as investors try to
understand what is going to happen in early November with the
U.S. election and the subsequent reaction of both stocks and
currency markets," ActivTrades chief analyst Carlo Alberto De
Casa said in a note.            
    "Technically gold is regaining strength, with the
consolidation above $1,920 a supportive signal for bullion and
confirming traders' huge interest."
    Elsewhere, silver        gained 0.3% to $25.19 per ounce,
palladium        rose 0.3% to $2,445.89, while platinum       
eased 0.2% to $884.35.

 (Reporting by Brijesh Patel in Bengaluru; Editing by Jan Harvey
and Pravin Char)
  
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