Aug 25 (Reuters) - Gold prices edged lower on Tuesday,
weighed down by a stronger U.S. dollar and as hopes for
coronavirus treatments lifted risk sentiment.
FUNDAMENTALS
* Spot gold XAU= was down 0.2% to $1,929.25 per ounce by
0036 GMT.
* U.S. gold futures GCv1 eased 0.2% to $1,934.10.
* The dollar index .DXY held firm near a more than
one-week high hit last week, making gold more expensive for
holders of other currencies. USD/
* Asia's stock markets opened higher following a Wall Street
rally driven by coronavirus vaccine hopes. MKTS/GLOB
* The U.S. Food and Drug Administration authorised the use
of blood plasma from recovered COVID-19 patients as a treatment
option.
* However, the World Health Organization was cautious about
endorsing the use of recovered COVID-19 patients' plasma to
treat those who are ill, saying evidence that it works remains
"low quality." * Investors now await U.S. Federal Reserve Chairman Jerome
Powell's speech at Jackson Hole on Thursday for clarity on the
direction of U.S. monetary policy. * The Fed has rolled out a wave of fiscal and monetary
stimulus measures and cut interest rates to near zero to
mitigate the economic damage caused by the pandemic, helping
gold rise 28% so far this year.
* More than 23.57 million people have been reported to be
infected by the novel coronavirus globally and 809,569 have
died, according to a Reuters tally. * Meanwhile, U.S. Trade Representative Robert Lighthizer and
Treasury Secretary Steven Mnuchin spoke with Chinese Vice
Premier Liu He on Monday, the U.S. Trade Representative's Office
said. * Silver XAG= gained 0.3% to $26.62 per ounce, platinum
XPT= rose 0.8% to $923.10, and palladium XPD= climbed 1% to
$2,182.59.
DATA/EVENTS (GMT)
0600 Germany GDP Detailed QQ SA, YY NSA Q2
1400 US Consumer Confidence Aug
1400 US New Home Sales-Units July