PRECIOUS-Gold eases off record as dollar regains momentum

* Silver slips, but up about 15% so far this week
* Gold set for ninth straight weekly rise
* Interactive graphic tracking global spread of coronavirus:
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(Adds comments, updates prices)
By Eileen Soreng
Aug 7 (Reuters) - Gold's record-breaking rally paused on
Friday as the dollar got some respite from investors looking for
a hedge against the U.S.-China spat, but fears over a worsening
pandemic kept bullion on track for its longest streak of weekly
gains in about a decade.
Spot gold XAU= was 0.6% lower at $2,051.52 per ounce by
1158 GMT, having hit another record high of $2,072.50 in early
trade. It has added about 4% so far this week for what would be
its ninth straight weekly gain.
U.S. gold futures GCv1 eased 0.3% to $2,064.20.
"There is a bounce in the dollar in the last 24 hours and it
is key to the profit-taking we are seeing in gold," said OANDA
analyst Craig Erlam.
However, the momentum is still very much with the bulls and
$2,100 for gold is likely in the near term, he added.
The dollar .DXY rebounded from a two-year low as President
Donald Trump's decision to ban U.S. transactions with two
popular Chinese apps weighed on risk sentiment. USD/
MKTS/GLOB The U.S. currency has in many instances been the preferred
refuge during the flare-ups between Washington and Beijing.
"The dollar's performance has a major say on how much runway
gold bulls are accorded," said FXTM market analyst Han Tan.
Gold has risen about 35% this year amid surging COVID-19
cases that have battered economies and prompted unprecedented
global stimulus measures. "There would have to be a paradigm shift in the outlooks for
global monetary policy and the worldwide economy, before
considering whether gold's surge has run its course," Tan added.
Investors are now waiting for U.S. non-farm payrolls data
due at 1230 GMT.
Elsewhere, silver XAG= slid 3.3% to $27.99, having earlier
hit its highest since February 2013. It has gained about 15% so
far this week.
Platinum XPT= dipped 2.9% to $968.53 an ounce, while
palladium XPD= declined 2.4% to $2,168.02.