PRECIOUS-Gold slides nearly 2% on dollar rally, IMF silver lining

* Dollar rises 0.5%
* IMF says forecasts for global economy 'somewhat less dire'
* Interactive graphic tracking global spread of coronavirus:
https://graphics.reuters.com/world-coronavirus-tracker-and-maps/

(Updates prices)
By Sumita Layek
Oct 13 (Reuters) - Gold fell as much as 1.9% on Tuesday, to
below $1,900 an ounce, as the dollar rallied on an impasse over
U.S. stimulus and as investors latched onto a slightly less
stark economic report card from the International Monetary Fund.
Spot gold XAU= fell 1.7% to $1,890.01 per ounce by 1:34
p.m. EDT (1734 GMT). U.S. gold futures GCv1 settled down 1.8%
at $1,894.60.
"The stagnation in Washington over the next stimulus package
continues to pressure assets like gold that were relying on the
weakness in dollar for the next wave of support," said David
Meger, director of metals trading at High Ridge Futures.
"The IMF and other agencies like the U.S Federal Reserve
have also noted that recovery has taken place a little quicker
than they originally anticipated, so that would lead us to
believe that there could be a need of lesser stimulus
worldwide."
The dollar .DXY jumped 0.5% against rivals, making gold
more expensive, after U.S. House Speaker Nancy Pelosi said the
latest coronavirus stimulus package offer by President Donald
Trump fell short of what the United States needs.
USD/ The IMF said forecasts for the global economy were "somewhat
less dire" as wealthy countries and China rebounded more quickly
than expected. "Gold has been toyed with" during negotiations for the
fiscal stimulus deal, with the latest deadlock "taking away some
of the short term bullish drivers we anticipated," said Edward
Moya, a senior market analyst at OANDA.
"But all that means is that we're going to get the stimulus
later, probably early next year and that will lead to higher
gold prices."
Gold, considered a hedge against inflation and currency
debasement, has risen 25% this year amid unprecedented global
levels of stimulus during the pandemic.
Other metals too joined the slide, with silver XAG= diving
4.4% to $24.02 per ounce, platinum XPT= falling 1% to $864.69,
and palladium XPD= declining 3.8% to $2,311.34.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Gold slides on dollar rally https://tmsnrt.rs/2SQb2tv
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>