PRECIOUS-Gold rises, erasing losses as dollar retreats from highs

* Gold finds technical support at $1,850/ounce -analyst
* China's industrial profits grow for fourth straight month
* Focus on Trump-Biden presidential debate on Tuesday
* Interactive graphic tracking global spread of coronavirus:
https://graphics.reuters.com/world-coronavirus-tracker-and-maps/

(Updates prices)
By Swati Verma
Sept 28 (Reuters) - Gold rose on Monday, erasing early
losses as the dollar retreated from a two-month peak ahead of
the U.S. presidential debates this week, although a stock market
rebound capped gains in bullion.
Spot gold XAU= gained 1.0% to $1,878.33 per ounce by 2:07
p.m. EDT (1807 GMT), while U.S. gold futures GCv1 settled up
0.9% at $1,882.30.
"Gold has started to recuperate losses as the dollar has
eased and real rates have edged lower," said Standard Chartered
analyst Suki Cooper.
"There are plenty of risk events this week for gold to take
its cue from, ranging from the first of three U.S. presidential
debates to unemployment and inflation data," she added.
President Donald Trump and former Vice President Joe Biden
will face each other in their first presidential debate on
Tuesday. The dollar index .DXY eased 0.4% from a two-month peak hit
in the last session against a basket of currencies. USD/
Gains in bullion were limited as the equities climbed,
mainly boosted by data over the weekend showing profits at
China's industrial firms grew for the fourth straight month in
August. MKTS/GLOB "Gold has found a new key technical support level at $1,850.
You are probably seeing gold investors starting to feel a little
more positive about scaling back into gold," said Edward Moya,
senior market analyst at OANDA in New York.
"The fact that gold is down over a couple of hundred dollars
from its record highs, investors see this as a good opportunity
to get in."
Despite the gains on Monday, gold is down about 10% from a
record peak of $2,072.50 hit in August. The metal posted its
biggest weekly decline since March 13 on Friday.
Silver XAG= jumped 2.9% to $23.52 per ounce, platinum
XPT= climbed 4% to $880.93 and palladium XPD= rose 1.7% to
$2,253.00.