PRECIOUS-Gold edges up on Biden's stimulus proposal - Reuters

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    Jan 15 (Reuters) - Gold rose on Friday as U.S.
President-elect Joe Biden unveiled a massive stimulus plan,
while U.S. Federal Reserve Chair Jerome Powell's commitment to
keep monetary policy dovish further boosted the metal's appeal.
    
    FUNDAMENTALS
    * Spot gold        rose 0.2% to $1,850.36 per ounce by 0042
GMT, while U.S. gold futures        were flat at $1,852.20.
    * Biden unveiled a $1.9 trillion stimulus package proposal
on Thursday designed to jump-start the economy and speed up the
U.S. response to the coronavirus pandemic.             
    * With the U.S. economy still far from its inflation and
employment goals it is too early for the Federal Reserve to
discuss changing its monthly bond purchases, Powell said on
Thursday.                
    * The number of Americans filing first-time applications for
unemployment benefits surged last week, confirming a weakening
in labor market conditions with a worsening COVID-19 pandemic.
            
    * Global coronavirus cases rose to more than 92.22 million.
            
    * America will be in uncharted territory when the U.S.
Senate meets as soon as next week for the second impeachment
trial of Donald Trump, after the House of Representatives
impeached Trump on Wednesday on charges of incitement one week
after his supporters rampaged in the Capitol.             
    * SPDR Gold Trust      , the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.9% to 1,161.00
tonnes on Thursday from 1,171.21 tonnes on
Wednesday.            
    * Silver        rose 0.5% to $25.65 an ounce. Platinum
       eased 0.2% to $1,116.52, while palladium        shed 0.1%
to $2,406.99.
    
DATA/EVENTS (GMT)
0700  UK      GDP Estimate 3M/3M          Nov
0700  UK      GDP Estimate MM, YY         Nov
0700  UK      Manufacturing Output MM     Nov
0745  France  CPI (EU Norm) Final MM, YY  Dec
1100  EU      Reserve Assets Total        Dec
1330  US      Retail Sales MM             Dec
1415  US      Industrial Production MM    Dec
1500  US      U Mich Sentiment Prelim     Jan

 (Reporting by Sumita Layek in Bengaluru; Editing by
Ramakrishnan M.)
  

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