* Platinum slips from more than 4-yr high, set for 2nd
weekly gain
* Interactive graphic tracking global spread of coronavirus:
tmsnrt.rs/3mvcUoa
(Updates prices)
By K. Sathya Narayanan
Jan 22 (Reuters) – GoldCOVID-19) vaccine rollout could be effective,” said Phillip
Streible, chief market strategist at Blue Line Futures in
Chicago.
The strength in the dollar was also weighing on bullion with
benchmark U.S. Treasury yields firm above 1%, Streible said.
U.S. President Joe Biden has proposed a $1.9 trillion
coronavirus relief plan, though some Republicans have expressed
concerns over the amount.
Global equities benchmarks slipped from record highs and
grains futures fell, while the dollar edged higher against key
rivals.
Elsewhere, platinum fell 2.5%, to $1,098.70 an ounce,
having hit its highest since August 2016 on Thursday. It was set
to post its second consecutive weekly gain, up 2.3%.
“As a result, the price differential to gold narrowed for a
time to $720 per troy ounce. The last time it was any lower was
in February last year,” said Commerzbank analyst Carsten Fritsch
in a note.
“There was no specific trigger for the price surge. The
price may have been pushed up by technical buying after it
exceeded its previous high at $1,130.”
Silver fell 1.8% to $25.47 an ounce, but was up 2.9%
so far this week. Palladium eased 0.3% to $2,356.29.
(Reporting by K. Sathya Narayanan in Bengaluru; Editing by Jane
Merriman and Chizu Nomiyama)
