PRECIOUS-Gold slips on firmer dollar, vaccine boost to economic outlook

* U.S. weekly initial jobless claim data due 1330 GMT
* Dollar snaps five sessions of losses
* GRAPHIC: Tracking the vaccine race https://tmsnrt.rs/3nGrJoP
* Graphic tracking world spread of coronavirus: https://tmsnrt.rs/3mvcUoa

(Updates prices)
By Asha Sistla
Nov 19 (Reuters) - Gold fell to a one-week low on Thursday
as the dollar regained momentum and optimism that progress on
vaccine development would hasten economic recovery eroded
bullion's safe-haven appeal.
Spot gold XAU= fell 0.5% to $1,861.35 per ounce by 1311
GMT, having earlier hit its lowest since Nov. 9 at $1,854.60.
U.S. gold futures GCcv1 slipped 0.7% to $1,860.80.
Gold is the victim of optimism over a coronavirus vaccine
and a strengthening dollar pushing it towards the bottom end of
its range, Michael Hewson, chief market analyst at CMC Markets
UK, said.
"U.S. fiscal stimulus remains an issue because (Donald)
Trump hasn't yet conceded the presidential election, so fiscal
support remains far away," he added.
The dollar .DXY , considered a rival safe haven, was up
0.3% versus rivals, benefiting from uncertainties over a spike
in new coronavirus cases in the United States and resultant
restrictions. USD/ Rising cases in Europe too pushed world stocks further away
from record peaks scaled after promising vaccine announcements
from Pfizer and Moderna. MKTS/GLOB
The vaccines could be ready for U.S. authorisation within
weeks, U.S. Health and Human Services Secretary Alex Azar said
on Wednesday.
"In the short term, (gold) prices may continue to drift
lower towards $1,800," Vincent Tie, sales manager at Silver
Bullion, said.
Gold has gained some 23% this year, boosted by its appeal as
a hedge against inflation and currency debasement that may
follow the unprecedented global stimulus.
"What hasn't changed is the prospect of near-term economic
damage due to rising virus cases," said Hewson, adding that
central banks might have to do the "heavy-lifting" in the
short-term. Investors awaited U.S. jobs data at 1330 GMT for evidence on
the state of the economy.
Silver XAG= dipped 1.6% to $23.92 per ounce. Platinum
XPT= rose 0.7% to $948.50, while palladium XPD= fell 0.5% to
$2,317.50.