PRECIOUS-Gold falls as vaccine rollouts lessens safe-haven demand

(Updates prices)
* Vaccine euphoria likely to grip gold in near-term -analyst
* Interactive graphic tracking global spread of coronavirus:
https://tmsnrt.rs/3mvcUoa

By Nakul Iyer
Dec 14 (Reuters) - Gold prices eased on Monday as COVID-19
vaccine rollouts lifted riskier assets, overshadowing hopes for
further U.S. fiscal and monetary stimulus.
Spot gold XAU= fell 0.3% to $1,833.21 per ounce by 0615
GMT, while U.S. gold futures GCv1 eased 0.3% to $1,838.10.
"The euphoria around a COVID-19 vaccine will likely
overshadow further easing from the Federal Reserve and a fiscal
relief package in the near term," said Howie Lee, an economist
at OCBC Bank.
"But gold could rally in 2021 when the vaccine optimism dies
down and investors' focus returns to rising inflation
expectations due to the large swathe of monetary and fiscal
stimulus the U.S. economy still requires."
The first shipments of Pfizer Inc PFE.N and BioNTech SE's
BNTX.O coronavirus vaccine in the United States began on
Sunday, lifting Asian equities. MKTS/GLOB But, limiting gold's losses were reports that a $908 billion
U.S. COVID-19 relief plan could be introduced as early as Monday
as a leading Democrat lawmaker suggested his party might be
willing to reach a compromise.
Investors now await the U.S Federal Reserve's two-day policy
meeting starting on Tuesday with bets for increased purchases of
longer-dated Treasuries to contain a rise in yields, that also
pressured the dollar. USD/
Gold, considered a hedge against inflation and currency
debasement, has gained 21% so far this year on the back of
near-zero interest rates and unprecedented global stimulus.
Speculators raised bullish positions in COMEX gold and
silver contracts in the week to Dec. 8, U.S. Commodity Futures
Trading Commission (CFTC) data showed. Silver XAG= fell 0.1% to $23.90 an ounce, while platinum
XPT= gained 0.8% to $1,016.57 and palladium XPD= rose 0.3%
to $2,325.65.