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(Provides feedback, particulars, updates costs) * Gold's value motion has consolidated- analyst * Powell sees no motive to change Fed's accommodative stance * Platinum up over 4% up to now this week * Interactive graphic monitoring world unfold of coronavirus: tmsnrt.rs/3mvcUoa By Sumita Layek Jan 15 (Reuters) - Gold rose on Friday as prospects of a substantial U.S. pandemic aid bundle boosted the metallic's attraction as an inflation hedge, whereas the Federal Reserve's dovish stance on financial coverage additionally supported costs. Spot gold rose 0.3% to $1,851.14 per ounce by 0251 GMT, whereas U.S. gold futures had been flat at $1,851.20. "The stimulus goes to be bullish for asset markets and with the Fed chair quashing any prospects of elevating curiosity charges or dialling down bond shopping for anytime quickly, has given some help to gold," mentioned Jeffrey Halley, a senior market analyst at OANDA. U.S. President-elect Joe Biden unveiled a $1.9 trillion stimulus bundle proposal on Thursday designed to jump-start the economic system and speed up the distribution of coronavirus vaccines. Powell on Thursday mentioned there is no such thing as a motive to change the central financial institution's extremely accommodative stance with the U.S. economic system nonetheless removed from its inflation and employment objectives. Straightforward central financial institution financial coverage provides stress on authorities bond yields and advantages gold, which can also be thought-about a hedge in opposition to inflation. However the value motion in gold has consolidated and it isn't exhibiting any indicators of making an attempt to interrupt out to the upside, Halley mentioned, including U.S. yields will transfer up once more and put gold underneath stress. Benchmark 10-year Treasury yields eased after touching a 10-month excessive earlier within the week, whereas Asian shares rose. "Gold's upside seems constrained amid rising yield and buoyant dangerous belongings. Nevertheless, a weaker U.S. greenback, stimulus expectations and depressed actual rates of interest ought to stay supportive," ANZ analysts mentioned in a word. Silver rose 0.3% to $25.59 an oz.. Platinum eased 0.8% to $1,108.92, however was up over 4% up to now this week, whereas palladium held regular at $2,408.06. (Reporting by Sumita Layek in Bengaluru; Modifying by Ramakrishnan M.)
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