Dec 1 (Reuters) - Gold edged up on Tuesday, as investors
weighed optimism over prospects for a COVID-19 vaccine against a
surge in infections and possible restrictive measures to combat
the pandemic that risk derailing a swift global economic
recovery.
FUNDAMENTALS
* Spot gold XAU= rose 0.1% to $1,778.76 per ounce by 0049
GMT, while U.S. gold futures GCv1 were little changed at
$1,780.50.
* Some Americans could begin receiving coronavirus
vaccinations before Christmas, a top government official said on
Monday. * Moderna Inc MRNA.O sought U.S. emergency authorization
for its COVID-19 vaccine after a late-stage study showed it was
94.1% effective, with no serious safety concerns. * New COVID-19 cases topped 1.1 million in the United States
last week and the number of patients in hospital hit a record on
Sunday, with California weighing fresh curbs, such as
stay-at-home orders. * The recovery outlook was also dimmed after data on Monday
showed contracts to buy previously owned U.S. homes fell for a
second straight month in October, while activity at factories in
the Midwest and Texas slowed in November. * U.S. President-elect Joe Biden named former Federal
Reserve chair Janet Yellen as treasury secretary nominee, while
Arizona and Wisconsin completed state vote confirmations
undermining President Donald Trump's electoral dispute.
* The European Union is likely to launch contingency
measures this week, if it is unable to reach agreement by then
with Britain on a trade deal, a senior EU diplomat said on
Monday. * Falling costs to roll forward U.S. gold futures contracts
suggest the market is moving closer to normal trading after
turmoil caused by COVID-19 raised investors' overheads, curbed
activity and funnelled massive profits to investment banks.
* Silver XAG= gained 0.2% to $22.64 per ounce, while
platinum XPT= rose 0.4% to $968.78 and palladium XPD= was
down 0.1% at $2,370.63.
DATA/EVENTS (GMT)
0145 China Nov. Caixin Mfg PMI Final
0900 EU Nov. Markit Mfg Final PMI
1500 US Nov. ISM Manufacturing PMI