PRECIOUS-Gold eyes sixth weekly gain as coronavirus cases surge

* Silver heads for sixth straight weekly gain
* EU leaders meeting in Brussels on investors radar
* Interactive graphic tracking global spread of coronavirus:
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https://tmsnrt.rs/3aIRuz7 in an external browser

(Adds graphic, updates prices)
By Eileen Soreng
July 17 (Reuters) - Gold rose on Friday and was headed for
its sixth consecutive weekly gain as surging coronavirus cases
fuelled demand for safe havens.
Spot gold XAU= had climbed 0.5% to $1,805.43 per ounce by
1145 GMT. U.S. gold futures GCv1 were up 0.4% at $1,806.80.
The United States reported over 77,000 new cases new
COVID-19 cases on Thursday, according to a Reuters tally, while
global cases crossed 13.84 million. The surge prompted some U.S. states to partially shut again,
raising fears the economy and labour market will continue to
struggle.
"As long we don't have a vaccine, we will continue to have
these problems... We could see a push towards $2,000 before the
end of this year," said Afshin Nabavi, senior vice president at
precious metals trader MKS SA.
Tensions between the United States and China are also
prompting people to invest more in gold rather than stocks,
Nabavi said.
Adding to the recent rise in U.S.-Sino friction, the Trump
administration was considering banning travel to the United
States by all members of the Chinese Communist Party, a person
familiar with the matter said on Thursday, an idea that China
dismissed as absurd. York Federal Reserve President John Williams said it
could take a few years for the U.S. economy to recover, and it
was not yet the time to think about raising interest rates.
Investors also eyed a meeting of EU leaders in Brussels
about a proposed stimulus to kick-start their COVID-hit
economies. European Central Bank Vice-President Luis de Guindos
said he expected them to reach an agreement before the end of
July. "The bulls' case for gold remains intact with real rates low
and suppressed which would be able to sustain the high price of
gold," Phillip Futures said in a note.
Also supporting bullion, the dollar .DXY eased 0.3%
against its rivals. USD/
Palladium XPD= rose 0.2% to $2,000.26 per ounce, while
platinum XPT= was up 0.1% to $824.98.
Silver XAG= inched 0.1% higher to $19.11, and was headed
for a sixth straight weekly rise.

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Gold versus rising coronavirus cases https://tmsnrt.rs/2OCa5Tm
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