PRECIOUS-Gold heads for weekly rise on subdued U.S. Treasury yields, dollar

* Gold set for 3rd weekly gain, up 0.4% so far this week
* Swiss gold exports at 10-month high on huge shipments to
India
* Analysts expect a further run towards $3,000/oz for
palladium

(Updates prices)
By Shreyansi Singh
April 23 (Reuters) - Gold was little changed on Friday but
was set to post a third straight weekly gain after U.S.
President Joe Biden's proposal to hike capital gains tax weighed
on U.S. Treasury yields, while a weaker dollar also supported.
Spot gold XAU= was steady at $1,783.24 per ounce by 0723
GMT. The metal jumped to its highest since Feb. 25 at $1,797.67
on Thursday, and has added about 0.4% so far this week.
U.S. gold futures GCv1 rose 0.2% to $1,785.60 per ounce.
"The knock-on effect from the tax hike (proposal) is
attracting bond investors and the yields have dropped, and this
is providing a little bit of lift-off for gold," said Stephen
Innes, chief global market strategist at financial services firm
Axi.
"The big question now facing gold markets is a decision on
how the U.S. Federal Reserve is going to play next week."
The U.S. 10-year Treasury yield US10YT=RR ticked lower on
news that Biden will roll out a plan to raise taxes for high
earners. US/ A subdued dollar .DXY also raised gold's appeal for other
currency holders. USD/
Underlining a revival in Asian bullion demand, shipments to
India leapt to their highest since 2013, driving Swiss gold
exports to a 10-month high. Despite signs of strong pent-up demand for physical gold in
India, rising coronavirus cases and renewed lockdown measures
are threatening to kill off that revival, ANZ analysts wrote in
a note.
India recorded the world's highest daily tally of COVID-19
infections on Thursday. Palladium XPD= rose 0.4% to $2,847.63 per ounce but was
off a record $2,891.50 hit on Thursday. Many analysts expect a
further run towards $3,000 as automakers ramp up purchases of
the metal, worsening a supply shortage. Silver XAG= was down 0.4% at $26.06 per ounce, but set for
a third straight weekly gain.
Platinum XPT= gained 0.5% to $1,209.11.