PRECIOUS-Gold rises as dollar weakens after ECB stands pat on policy

* ECB keeps policy unchanged
* Dollar slips
* Interactive graphic tracking global spread of coronavirus:
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https://tmsnrt.rs/3aIRuz7 in an external browser

(Adds comment, updates prices)
By Sumita Layek
Sept 10 (Reuters) - Gold jumped 1% on Thursday, as the
dollar weakened after the European Central Bank kept its policy
unchanged and U.S. jobless claims held at high levels, dimming
hopes of a quick economic recovery from the effects of the
coronavirus pandemic.
Spot gold XAU= rose 0.5% to $1,956.06 per ounce at 2:01
p.m. EDT (1801 GMT), after hitting its highest level since Sept.
2 at $1,965.93.
U.S. gold futures GCv1 settled up 0.5% at $1,964.30.
"The ECB didn't really change its policy and so we're seeing
the U.S. dollar dropping here. That's positive for gold," said
Bart Melek, head of commodity strategies at TD Securities.
The dollar .DXY was down 0.1%, making gold cheaper for
holders of other currencies, as the euro rose after ECB
President Christine Lagarde said it is keeping a close eye on
the exchange rate. USD/
U.S. weekly jobless claims hovered at high levels last week,
suggesting a slowing labor market recovery. Melek said the recovery was not happening as quickly as
expected, adding that "there are concerns about a second wave of
virus, commodity markets like oil are indicating that perhaps
growth is slowing down and all monetary policy will be easing."
The U.S. Federal Reserve's next policy meeting is due on
Sept. 15-16.
Meanwhile, the U.S. Senate blocked a Republican bill that
would have provided around $300 billion in new coronavirus aid,
as Democrats are pushing for more funding. "We are going to get continued economic stimulus (from the
Fed and U.S. government), for at least another 6 months to a
year, and that should keep gold supported," said Jeffrey Sica,
founder of Circle Squared Alternative Investments.
Bullion has risen 29% this year on the back of unparalleled
stimulus and near-zero interest rates from the global central
banks.
Elsewhere, silver XAG= eased 0.2% to $26.98 per ounce,
platinum XPT= gained 1.6% to $930.80 and palladium XPD= rose
1.7% to $2,309.93.