PRECIOUS-Gold faces weekly decline as stimulus hopes fade

* Spot gold down 1% this week; silver down 3%
* Dollar heads for first weekly rise in three
* Time to prepare for no trade deal Brexit- UK PM
* Interactive graphic tracking global spread of coronavirus:
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(Updates prices)
By Brijesh Patel
Oct 16 (Reuters) - Gold steadied as the dollar eased on
Friday but was still set for its first weekly loss in three as
doubts grew over a U.S. stimulus agreement before next month's
presidential election.
Spot gold XAU= was up 0.1% at $1,908.72 per ounce by 1204
GMT but down more than 1% so far this week. U.S. gold futures
GCcv1 gained 0.2% to $1,913.30.
"The lack of any physical stimulus now until post the U.S.
election perhaps saw some liquidation of gold this week," said
Robin Bhar, an independent analyst.
"Gold is pretty much watching what other markets are doing,
it doesn't really have too much of a catalyst itself to move
significantly higher, and equally not much of a catalyst to move
significantly lower."
The dollar index .DXY was 0.2% lower on the day but still
set for a weekly gain, making it more expensive for holders of
other currencies to buy gold. USD/
U.S. President Donald Trump said on Thursday he was willing
to raise his offer of $1.8 trillion for a relief deal with
Democrats in Congress, but the idea was shot down by Senate
Majority Leader Mitch McConnell. "The indecisiveness of the administration in Washington on
the stimulus is putting a lot of volatility into our markets,"
said Afshin Nabavi, senior vice president at precious metals
trader MKS SA.
"Gold is stuck in a range and we need to break above $1,950
or below $1,850 to be able to have a new direction."
Meanwhile, British Prime Minister Boris Johnson said on
Friday it was time to prepare for a no-trade deal Brexit in 10
weeks as the European Union had refused to negotiate seriously.
Silver XAG= rose 0.3% to $24.47 per ounce, but was down 3%
for the week. Platinum XPT= fell 0.5% to $859.73 and palladium
XPD= slipped 0.8% to $2,334.29.