PRECIOUS-Gold firms above $1,800/oz on virus, subdued dollar

* Silver scales over 10-month peak
* Specs raise gold bullish positions in week ended July 7
-CFTC
* Interactive graphic tracking global spread of coronavirus:
open
https://tmsnrt.rs/3aIRuz7 in an external browser

(Adds chart, updates prices)
By Eileen Soreng
July 13 (Reuters) - Gold prices firmed above the key $1,800
an ounce level on Monday, supported by uncertainty over the
impact of surging coronavirus cases and a subdued dollar.
Spot gold XAU= rose 0.5% to $1,808.01 per ounce by 1128
GMT. U.S. gold futures GCv1 were up 0.7% at $1,814.70.
"The uncertainty related to the continued increase in the
virus count is adding some underlying support to the market ...
There's absolutely no reason not to hold on to long positions
for at least as long as we stay above the $1,765 area," said
Saxo Bank analyst Ole Hansen.
The World Health Organization reported a record increase in
global coronavirus cases on Sunday, with the total rising by
230,370 in 24 hours. The biggest increases were from the United
States, Brazil, India and South Africa. However, the emergence of a viable vaccine to treat the
virus could prompt profit-taking in gold, Hansen added.
The dollar index .DXY eased 0.2%, after a third
consecutive weekly decline. USD/
Safe-haven gold's rise also came despite gains in European
shares. .EU
"Gold price is consolidating above $1,800 with bullion
holding onto this significant threshold despite stocks in green.
This confirms investors' huge appetite for the yellow metal in
this uncertain phase on markets," ActivTrades chief analyst
Carlo Alberto De Casa said in a note.
Adding to the global uncertainties driving inflows into safe
haven assets, U.S. President Donald Trump said on Friday he was
not currently thinking about negotiating a "Phase 2" trade deal
with China. Indicative of investor sentiment, speculators increased
their bullish positions in COMEX gold and silver contracts in
the week to July 7, the U.S. Commodity Futures Trading
Commission said on Friday. CFTC/
Elsewhere, silver XAG= climbed 2.5% to $19.14 per ounce,
having hit a high since Sept. 5 at $19.16.
Platinum XPT= was 3.5% higher at $842.68 per ounce;
palladium XPD= gained 0.7% to $1,983.71.

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