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PRECIOUS-Gold ticks up as stimulus hopes outweigh firmer dollar

    Jan 19 (Reuters) - Gold prices inched higher on Tuesday
after hitting a 1-1/2-month low in the previous session, as
hopes of further global stimulus to stem the economic toll from
the COVID-19 pandemic countered a firmer dollar.
    
    FUNDAMENTALS
    * Spot gold        rose 0.1% to $1,838.51 per ounce by 0039
GMT. On Monday, prices had dipped to their lowest since Dec. 2
at $1,809.90. U.S. gold futures        gained 0.4% to $1,836.50.
    * The U.S. dollar        hit a four-week high against rival
currencies in the previous session.       
    * U.S. President-elect Joe Biden's nominee to run the
Treasury Department, Janet Yellen, will tell the Senate Finance
Committee on Tuesday that the government must "act big" with its
next coronavirus relief package.             
    * Biden has outlined a $1.9 trillion stimulus package
proposal to jump-start the virus-stricken economy.             
    * Euro zone finance ministers pledged continued fiscal
support for their economies on Monday and discussed the design
of post-pandemic recovery plans as the European Commission
warned the COVID-19 crisis was making the bloc's economic
imbalances worse.            
    * The head of the International Monetary Fund said the
global lender needed more resources to help heavily indebted
countries, citing a highly uncertain global economic
outlook.            
    * The head of the World Health Organization urged countries
and manufacturers to spread COVID-19 vaccines doses more fairly
around the world.                
    * A fund of Russia's Norilsk Nickel has launched
Blockchain-tracked securities known as Exchange Traded
Commodities (ETCs) which offer investors exposure to the spot
prices of palladium, platinum, gold and silver without owning
them.            
    * Silver        fell 1.1% to $25.05 an ounce. Platinum
       rose 1.3% to $1,092.65, while palladium        shed 0.3%
to $2,363.89.

DATA/EVENTS (GMT)
0700  Germany  HICP Final YY  Dec
1000  Germany  Zew Economic Sentiment Jan
1000  Germany  Zew Current Conditions Jan

 (Reporting by Sumita Layek in Bengaluru; Editing by Subhranshu
Sahu)
  
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