PRECIOUS-Gold prices ease as dollar firms, virus fears cap losses

* SPDR Gold Trust holdings rise 0.3% on Monday
* Silver slips from multi-month highs
* Interactive graphic tracking global spread of coronavirus:
open
https://tmsnrt.rs/3aIRuz7 in an external browser

(Updates prices)
By Brijesh Patel
July 14 (Reuters) - Gold prices edged lower on Tuesday, as
the U.S. dollar strengthened, although worries over surging
coronavirus cases globally and Sino-U.S. tensions put a floor
under bullion prices.
Spot gold XAU= was down 0.1% at $1,801.11 per ounce by
0647 GMT. U.S. gold futures GCcv1 fell 0.6% to $1,804.
"We are seeing pressure on risk assets given the sentiment
and concerns, particularly about China and U.S. relations. But
the reversal of dollar weakness is knocking gold around a little
at the moment, particularly given that prices are around 9-year
highs," said Michael McCarthy, chief strategist at CMC Markets.
The dollar index .DXY rose 0.1% against its rivals, making
gold more expensive for holders of other currencies. USD/
The COVID-19 pandemic will worsen if countries fail to
adhere to strict healthcare precautions, the World Health
Organization warned on Monday, as coronavirus cases globally
passed 13 million. California's governor ordered a retreat from the state's
reopening as infections soared, while Canada and the United
States are likely to extend bans on non-essential travel imposed
to fight the outbreak. Apart from the pandemic, renewed concerns about diplomatic
tension between the United States and China also dented risk
appetite, capping losses in bullion, which is considered a hedge
against political and financial uncertainty. MKTS/GLOB
Reflecting increased investor interest in gold, holdings of
SPDR Gold Trust GLD , the world's largest gold-backed
exchange-traded fund, rose 0.3% to 1,203.97 tonnes on Monday.
GOL/ETF
On the technical front, a bullish target of $1,831 per ounce
has been aborted for spot gold as it is about to break a support
at $1,796, said Reuters technical analyst Wang Tao. TECH/C
Elsewhere, palladium XPD= gained 0.4% to $1,988 per ounce
and platinum XPT= rose 0.9% to $835.43.
Silver XAG= dropped 0.3% to $19.02 per ounce, after
hitting its highest since September 2019 on Monday.

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