PRECIOUS-Gold dips as dollar regains ground, all eyes on Fed speakers

* New coronavirus infections in Europe add to economic woes
* Gold likely to be range-bound for the week - analyst
* Interactive graphic tracking global spread of coronavirus:
https://graphics.reuters.com/world-coronavirus-tracker-and-maps/

(Recasts, adds comment, updates prices)
By Eileen Soreng
Sept 21 (Reuters) - Gold prices erased earlier gains to
trade lower on Monday due to an uptick in the dollar, while
investors looked to Federal Reserve policymakers' speeches this
week for signals on their approach to inflation.
Spot gold XAU= eased 0.1% to $1,947.19 per ounce by 0810
GMT. U.S. gold futures GCv1 fell 0.5% lower to $1,953.
The dollar index .DXY bounced up 0.1% against its rivals,
making gold more expensive for holders of other currencies.
USD/
Investors are now awaiting speeches by Fed committee
members, including Chairman Jerome Powell, who will appear
before Congressional committees later this week. "The focus on Jerome Powell will be how much he is going to
try to sway the Senate to provide more stimulus," said Stephen
Innes, chief market strategist at AxiCorp.
More stimulus in the United States could lead to a weaker
dollar and that would be positive for gold, he added.
Gold has surged about 29% this year as governments and
central banks worldwide released unprecedented stimulus measures
to revive their coronavirus-battered economies.
But rising economic concerns with resurgence of COVID-19
cases globally cushioned some of bullion's losses. Major
European cities announced restrictions again, while worldwide
cases crossed 30.78 million. "Gold is likely to trade range-bound between $1,930 and
$1,970 during the week," said Jigar Trivedi, commodities analyst
at Mumbai broker Anand Rathi Shares.
Development of a coronavirus vaccine and dollar strength
could trigger a correction in gold in the near term, he added.
Meanwhile, data from the Commodities Futures Trading
Commission showed that speculators raised their net long
position in COMEX gold by 10,622 contracts to 165,251 in the
week ended Sept. 15. Among other precious metals, silver XAG= fell 0.5% to
$26.62 per ounce, platinum XPT= rose 0.4% to $931.18 and
palladium XPD= inched 0.1% higher to $2,358.48.