for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

PRECIOUS-Gold steadies as vaccine doubts weigh on recovery outlook

    Nov 27 (Reuters) - Gold prices steadied on Friday as
investors took stock of doubts raised over the efficacy of an
inexpensive coronavirus vaccine, but the precious metal was set
for a third week of declines.  
    
    FUNDAMENTALS
    * Spot gold        was little changed at $1,810.75 per ounce
by 0118 GMT. U.S. gold futures        rose 0.2% to $1,809.80 per
ounce.
    * Gold was down over 3% for the week as progress in COVID-19
vaccine development and U.S. President-elect Joe Biden's
transition to the White House bolstered risk sentiment.
    * Britain has asked its medicine regulator to assess Oxford
University and AstraZeneca's         COVID-19 vaccine candidate
for temporary supply, while U.S. President Donald Trump said
vaccine delivery would begin next week.  
                        
    * AstraZeneca, however, is facing tricky questions about its
success rate that could hinder its chances of getting speedy
U.S. and EU regulatory approval, prompting Asian shares to fall
slightly.                        
    * Trump said on Thursday he will leave the White House if
the Electoral College votes for Biden, the closest he has come
to conceding the Nov. 3 election, even as he repeated his
unfounded claims of massive voter fraud.             
    * Raising the prospect for further stimulus, the European
Central Bank's chief economist warned that tolerating "a longer
phase of even lower inflation" would hurt consumption and
investment.                         
    * Core consumer prices in Tokyo recorded their biggest
annual drop in more than eight years, a sign the hit to
consumption from the coronavirus crisis was heightening
deflationary pressure on the economy.             
    * Britain wants to resume face-to-face trade negotiations
with the European Union, but it is a decision for Brussels, a
spokesman for Prime Minister Boris Johnson said on Thursday. 
            
    * Silver        fell 0.9% to $23.25 per ounce, while
Platinum        fell 0.1% to $961.18 and palladium        was up
0.3% at $2,391.19.        

 (Reporting by Nakul Iyer in Bengaluru; Editing by Ramakrishnan
M.)
  
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up