PRECIOUS-Gold dips on firm dollar, stays above $1,800 on virus fears

* ECB keeps policy on hold
* China economy grew 3.2% in Q2, but June retail sales fell
* Gold tied in $1,800-$1,815/oz trading range - analyst
* GRAPHIC-2020 asset returns: http://tmsnrt.rs/2jvdmXl
* Interactive graphic tracking global spread of coronavirus:
open
https://tmsnrt.rs/3aIRuz7 in an external browser

(Updates prices)
By Eileen Soreng
July 16 (Reuters) - Gold edged lower on Thursday as the
dollar firmed, but worries over mounting coronavirus cases and
worsening U.S.-China ties limited declines and kept it above the
key $1,800 level.
Spot gold XAU= fell 0.4% $1,804.24 per ounce by 1208 GMT.
It hit $1,817.71, its highest since September 2011, last week.
U.S. gold futures GCcv1 fell 0.3% to $1,807.50.
"The dollar index's reclaiming of the 96 ...(currency
basket) level is taking some of the shine off gold for the time
being," said FXTM market analyst Han Tan.
"...Overall, the current market outlook remains conducive
for bullion bulls, considering the lingering concerns over the
global economy's ability to move past the pandemic."
Making gold expensive for holders of other currencies, the
dollar .DXY rose 0.1% against its rivals, benefiting from some
safe-haven inflows following weak Chinese retail sales data for
June. USD/ "Gold is tied in a trading range of $1,800 and $1,815," said
ActivTrades chief analyst Carlo Alberto De Casa, adding that
further lockdowns would be positive for gold.
European shares fell after deteriorating U.S.-China
relations and worse-than-expected Chinese domestic consumption
data weighed on global risk appetite. MKTS/GLOB
Washington plans to impose visa restrictions on Chinese
firms and take possible action to address perceived security
risks posed by Chinese apps TikTok and WeChat. Meanwhile, the European Central Bank kept policy unchanged
as expected taking a pause after a string of extraordinary moves
to help the euro zone stay afloat during a pandemic-induced
recession. Safe-haven gold has risen over 19% this year, also
benefiting from low interest rates and widespread stimulus as it
is seen as a hedge against inflation and currency debasement,
although market participants are still divided on the outlook
for inflation. Palladium XPD= dropped 0.7% to $1,968.34 per ounce,
platinum XPT= lost 0.9% to $824.27 and silver XAG= slipped
0.9% to $19.21.