PRECIOUS-Gold falls on uptick in equities; Trump-Biden debate eyed

* Stronger dollar could push gold to $1,820-$1,800/oz -
analyst
* China's industrial profits grow for fourth straight month
* Interactive graphic tracking global spread of coronavirus:
https://graphics.reuters.com/world-coronavirus-tracker-and-maps/

(Recasts, adds comment, updates prices)
By Nakul Iyer
Sept 28 (Reuters) - Gold fell on Monday as positive economic
data from China provided a fillip to risk-sentiment, denting the
appeal of the safe-haven metal ahead of the first presidential
election debate between U.S. President Donald Trump and
Democratic rival Joe Biden.
Spot gold XAU= fell 0.3% to $1,853.85 per ounce by 928
GMT. U.S. gold futures GCv1 were down 0.5% at $1,856.40.
"As China's ongoing economic recovery boosts risk sentiment
and uplifts investor confidence, appetite towards gold may drop
in the short term despite the negative list of factors at play,"
said FXTM analyst Lukman Otunuga.
Data over the weekend showed profits at China's industrial
firms grew for the fourth straight month in August, giving a
boost to equity markets. MKTS/GLOB Bullion, however, failed to take advantage of a slightly
softer dollar that lowered the cost of holding gold for other
currency holders. USD/
An appreciating dollar has the potential to drag gold prices
towards $1,820 - $1,800, though gold remains supported by
political uncertainty and rising coronavirus cases globally in
the medium to longer term, FXTM's Otunuga said.
Markets are now awaiting the first presidential election
debate between Trump and Biden on Tuesday. "If we do have a draw and no one particularly putting in a
strong performance, then I think the market will continue to be
left with a great deal of uncertainty," potentially benefiting
gold, said Saxo Bank analyst Ole Hansen.
Investors are keeping an eye on developments over a new
fiscal coronavirus relief package after U.S. House Speaker Nancy
Pelosi said on Sunday a deal could be reached with the White
House and that talks were continuing.
Elsewhere, silver XAG= fell 0.5% to $22.74 per ounce,
platinum XPT= gained 0.7% to $853.22 and palladium XPD= was
little changed at $2,215.46.

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