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PRECIOUS-Gold gains as U.S. jobs data, virus fears fuel stimulus hopes

 (Updates prices, adds European futures)
    * ANZ maintains 12-month gold price target of $2,100/oz
    * European stock futures rise on vaccine, stimulus optimism
    * Interactive graphic tracking global spread of coronavirus:
open
    * tmsnrt.rs/3aIRuz7 in an external browser

    By Nakul Iyer
    Nov 26 (Reuters) - Gold prices rose on Thursday, aided by a
weaker dollar, as investors bet that grim U.S. jobs data and
surging COVID-19 cases worldwide would spur authorities to
announce further stimulus measures.  
    Spot gold        rose 0.5% to $1,815.30 per ounce by 0748
GMT. U.S. gold futures        were up 0.4% at $1,812.70.
    "We've seen risk sentiment improve because of the optimism
over vaccines and those were the headwinds for gold," said
Harshal Barot, a senior research consultant for South Asia at
Metals Focus.
    "But since the dollar continues to weaken, gold prices are
finding a little bit of support." 
    The dollar index        edged down 0.1%, strengthening
gold's appeal to other currency holders.        
    Barot said gold would find support at $1,795 per ounce and
likely trade sideways in the near-term, until a "convincing"
break above $1,850.
    European stock futures rose as the market's euphoric mood
over COVID-19 vaccines and on the prospects for stimulus under
incoming President Joe Biden outweighed concerns around an
uptick in weekly U.S. jobless claims.                       
    "The vaccine narrative has watered down gold's appeal
immensely and it will continue too until we finally move into an
inflationary world," said Stephen Innes, chief global market
strategist at financial services firm Axi. 
     U.S. Federal Reserve policymakers discussed how the central
bank's asset purchases could be adjusted to provide more support
to markets in the minutes to its Nov. 4 to 5 meeting.
             
    Continued accommodative central bank policy, given the
widespread unavailability of a vaccine until the second half of
2021 and dollar weakness means gold is well supported, ANZ said
in a note, adding it maintains its 12-month price target of
$2,100 per ounce.               
    Gold is seen as a hedge against inflation likely to result
from large stimulus.    
    Silver        rose 0.6% to $23.44 an ounce. Platinum       
gained 0.3% to $966.74 and palladium        was rose 1.9% at
$2,372.15. 

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