Gold and Silver Updates


    * Platinum slips from greater than 4-yr excessive, set for 2nd
weekly acquire
    * Interactive graphic monitoring international unfold of coronavirus:

 (Updates costs)
    By Okay. Sathya Narayanan
    Jan 22 (Reuters) - Gold costs fell greater than 1% on Friday
as a broader market sell-off weighed on the metallic together with a
agency greenback, whereas hopes for additional stimulus from the U.S. put
bullion on monitor for its first weekly acquire in three.
    Spot gold        was down 0.8% at $1,855.81 per ounce by
12:13 a.m. EST (1713 GMT), retreating from a two-week excessive hit
on Thursday. The metallic was up 1.6% thus far this week.
    U.S. gold futures        fell 0.6% to $1,854.60.
    "Whatever the asset class every thing from equities to
agricultural to softs are promoting off and a whole lot of emphasis is
on whether or not the stimulus could possibly be handed and whether or not the
(COVID-19) vaccine rollout could possibly be efficient," mentioned Phillip
Streible, chief market strategist at Blue Line Futures in
    The power within the greenback was additionally weighing on bullion with
benchmark U.S. Treasury yields agency above 1%, Streible mentioned.
    U.S. President Joe Biden has proposed a $1.9 trillion
coronavirus aid plan, although some Republicans expressed
considerations over the quantity.                          
    International equities benchmarks slipped from document highs and
grains futures fell, whereas the greenback edged larger in opposition to key
    Elsewhere, platinum        fell 1.8% to $1,105.77 an oz.,
having hit its highest since August 2016 on Thursday. It was set
to put up its second consecutive weekly acquire, up 3.2%.
    "Consequently, the worth differential to gold narrowed for a
time to $720 per troy ounce. The final time it was any decrease was
in February final 12 months," mentioned Commerzbank analyst Carsten Fritsch
in a be aware.
    "There was no particular set off for the worth surge. The
worth could have been pushed up by technical shopping for after it
exceeded its earlier excessive at $1,130."
    Silver        fell 1.8% to $25.48 an oz., however was up 2.8%
thus far this week. Palladium        eased 0.3% to $2,355.95.

 (Reporting by Okay. Sathya Narayanan in Bengaluru; Modifying by
Elaine Hardcastle and Jane Merriman)


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