PRECIOUS-Gold climbs as growth risks remain, eyes 6th weekly gain

* Gold has gained 0.6% so far this week
* Silver heads for sixth straight weekly gain
* EU leaders meeting in Brussels on investors' radar
* Interactive graphic tracking global spread of coronavirus:
open
https://tmsnrt.rs/3aIRuz7 in an external browser

(Adds comments, updates prices)
By Nakul Iyer
July 17 (Reuters) - Gold jumped on Friday, poised for its
sixth consecutive weekly gain, as a record-breaking rise in
coronavirus infections in the United States fueled uncertainly
about an economic recovery, while a weaker greenback also added
support.
Spot gold XAU= rose 0.7% to $1,808.85 per ounce at 1:47
p.m. EDT (1747 GMT) and has gained 0.6% so far this week. U.S.
gold futures GCv1 settled up 0.5% at $1,810 per ounce.
"Negative real interest rates, ballooning central bank
balance sheets, weaker U.S. dollar and still-rising COVID-19
cases are enhancing the safe-haven appeal of the yellow metal,"
said ANZ commodity strategist Soni Kumari.
"Now, escalating tension between the U.S. and China is
another tailwind for the market."
The United States was considering banning travel to the
country by all members of the Chinese Communist Party, a person
familiar with the matter said. United States shattered its daily record for coronavirus
infections, prompting some states to impose partial lockdowns,
while the number of global cases crossed 13.89 million.

The dollar index .DXY eased 0.4% against its rivals.
USD/
A sharp rise in stimulus packages globally to shield
economies from the fallout of the coronavirus has driven
safe-haven gold 19.3% higher so far this year.
"Despite stimulus measures moderating of late, central banks
are keen to reassure markets that they have not reached the
bottom of their pockets should further stimulus be needed," said
Rory Townsend, WoodMac's head of gold research.
The sheer scale of the stimulus so far will be sufficient to
keep gold prices well supported, Townsend added.
U.S. lawmakers return to Washington on Monday to discuss
potential new coronavirus aid programs, while investors also
eyed a meeting of EU leaders about a proposed stimulus to
kick-start their COVID-hit economies. Elsewhere, palladium XPD= jumped 1% to $2,015.42 per
ounce, while platinum XPT= rose 0.9% to $831.51 per ounce.
Silver XAG= rose 0.9% to $19.34 per ounce and was headed
for a sixth straight weekly rise.

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Gold versus rising coronavirus cases https://tmsnrt.rs/2OCa5Tm
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