for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

PRECIOUS-Gold ticks higher on softer dollar, mounting virus woes

    Nov 16 (Reuters) - Gold prices inched up on Monday helped by
a softer dollar and mounting coronavirus cases in the United
States that escalated concerns of the pandemic's impact on the
pace of economic recovery. 

    FUNDAMENTALS
    * Spot gold        was up 0.1% to $1,888.91 per ounce by
0042 GMT.    
    * U.S. gold futures        were up 0.1% at $1,888.30.
    * The dollar index        was down 0.1%, while Asia's stock
markets opened higher on vaccine optimism.                   
    * U.S. President-elect Joe Biden's top advisers called for
urgent action to address the nation's "deeply alarming" COVID-19
crisis on Sunday, while the number of infection cases in the
United States crossed the 11-million mark.             
            
    * U.S. consumer sentiment fell unexpectedly in early
November as households worried about their finances, the
resurgent pandemic and the depleted fiscal stimulus, dimming the
economy's outlook.             
    * President Donald Trump on Sunday briefly acknowledged
losing the U.S. election in a morning Twitter post but then
backtracked, saying he concedes "nothing," and vowing to keep up
a court fight that election-law experts say is unlikely to
succeed.             
    * Japan's economy grew an annualised 21.4% in the third
quarter, data showed on Monday, rebounding sharply from a record
postwar slump.             
    * Holdings in SPDR Gold Trust      , the world's largest
gold-backed exchange-traded fund, fell 0.42% to 1,234.32 tonnes
on Friday.             
    * Consumers flocked to jewellery shops again in India last
week to snap up Diwali and Dhanteras festival deals, with a
retreat in prices also adding to the sparkle in the world's
second biggest bullion consumer.             
    * Silver        rose 0.2% to $24.68 per ounce. Platinum
       was up 0.3% at $891.46, while palladium        gained
0.4% to $2,333.01. 
    
    DATA/EVENTS (GMT)
    0200  China  Urban Investment (YTD) YY  Oct
    0200  China  Industrial Output YY       Oct
    0200  China  Retail Sales YY            Oct
    1100  EU     Reserve Assets Total       Oct
    Key banking/govt official to speak at the 23rd Euro Finance 
    Week conference in Frankfurt
    

 (Reporting by Eileen Soreng in Bengaluru; Editing by Rashmi
Aich)
  
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up