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PRECIOUS-Gold edges up as recovery hopes ebb on U.S. jobs data, virus concerns

    Nov 26 (Reuters) - Gold prices ticked up on Thursday as
disappointing U.S. jobs data and a resurgence of COVID-19 cases
worldwide cast doubts over a swift economic recovery and paused
a rally in traditional risk assets. 
    
    FUNDAMENTALS
    * Spot gold        rose 0.3% to $1,810.06 per ounce by 0052
GMT.  U.S. gold futures        were steady at $1,805.50. 
    * Asian shares dipped slightly on Thursday as the hot run-up
in global markets took a breather.                        
    * The number of Americans filing first-time claims for
jobless benefits increased to a seasonally adjusted 778,000 last
week amid surging coronavirus cases and business restrictions, 
U.S. Labor Department data showed on Wednesday.             
    * Deaths from COVID-19 in the United States surpassed 2,000
in a single day for the first time since May on Tuesday and
hospitalizations reached a record of more than 89,000 on
Wednesday.             
    * U.S. central bankers agreed asset purchases supported the
economy, according to the minutes of the Nov. 4-5 meeting
released on Wednesday. Some Federal Open Market Committee
participants said they expected the Fed to eventually lengthen
the maturity of the bonds purchased.            
    * British Prime Minister Boris Johnson said on Wednesday he
would not be asking for more time to negotiate a post-Brexit
trade deal with the European Union, beyond the current
transition period of Dec. 31.             
    * While some analysts believe bullion's rally has peaked
alongside the recent progress on a COVID-19 vaccine, others say
prices may still have some room to rise.             
    * Holdings of the SPDR Gold Trust      , the world's largest
gold-backed exchange-traded fund, fell 0.4% to 1,194.78 tonnes
on Wednesday from 1,199.74 tonnes on Tuesday.             
    * Silver        rose 0.2% to $23.35 per ounce. Platinum
       gained 0.2% to $965.52 and palladium        was 0.6%
higher at $2,342.16.  
    
    DATA AHEAD (GMT)
    0700  Germany    Dec. GfK Consumer Sentiment      
    0745  France     Nov. Consumer Confidence     

 (Reporting by Nakul Iyer in Bengaluru; Editing by Ramakrishnan
M.)
  
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