PRECIOUS-Gold falls on firm dollar, vaccine delay limits losses

* Dollar hits near one-month high
* Tech rout roils equities
* Focus on central banks decisions
* Interactive graphic tracking global spread of coronavirus:
open
https://tmsnrt.rs/3aIRuz7 in an external browser

(Recasts, adds comments; updates prices)
By Diptendu Lahiri
Sept 9 (Reuters) - Gold eased on Wednesday on a firm dollar
and as some investors sold bullion to offset losses from a
recent selloff in equities, but worries about a delay in the
development of a coronavirus vaccine limited the metal's
declines.
Spot gold XAU= fell 0.5% to $1,922.21 per ounce by 1056
GMT. U.S. gold futures GCcv1 fell 0.7% to $1,928.90.
"It is a combination of investors quitting to fund margin
calls and a stronger dollar. However, we don't see a drastic
fall in gold because the fundamentals are still rock solid,"
said Afshin Nabavi, senior vice president at precious metals
trader MKS SA.
While European shares bounced back a bit, sentiment remains
fragile after a sharp selloff in Wall Street and as AstraZeneca
halted trials of its COVID-19 vaccine. .EU The dollar .DXY was at a near one-month high against
rivals, making gold expensive for holders of other currencies.
USD/
Investors now await the outcome of the European Central
Bank's policy meeting due on Thursday and the Bank of Canada's
policy meeting on Wednesday.
"European countries do need some kind of economic help from
the central bank, which would make the euro a little weaker
compared to the dollar, but given the lingering uncertainties,
that won't cause much damage to gold's shine," said independent
analyst Ross Norman.
The COVID-19 pandemic has weighed heavily on economies
worldwide, forcing major central banks to provide massive
stimulus to counter the negative effects and putting gold on
track to register its best year in a decade.
The news of a delay in developing a vaccine for COVID-19 may
be indirectly supportive for gold, as it could spell a prolonged
economic slowdown and further expectations of fiscal stimulus,
said Saxo Bank analyst Ole Hansen.
Elsewhere, platinum XPT= rose 0.2% to $902.94. On Tuesday,
the World Platinum Investment Council changed its forecast for
the market in 2020 from a surplus to a deficit. Silver XAG= dipped 0.7% to $26.51, while palladium XPD=
was down 0.5% to $2,263.82.

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