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PRECIOUS-Gold dips as dollar rebounds, but set for a third weekly gain

 (Adds comments, updates prices)
    * Break above $1,892/oz could see more upside in gold -
analyst
    * Palladium set for first weekly gain in three 
    * Interactive graphic tracking global spread of coronavirus:
tmsnrt.rs/3mvcUoa

    By Nakul Iyer
    Dec 18 (Reuters) - Gold prices retreated on Friday after
rising sharply for the past three sessions as the dollar
rebounded, but the metal was on track to post a third straight
weekly gain on stimulus hopes in the United States.
    Spot gold        fell 0.3% to $1,880.20 per ounce by 0323
GMT. For the week, it was up 2.3% so far. U.S. gold futures
       dropped 0.3% to $1,885.30.
    "The U.S fiscal stimulus is more or less priced in... so
traders are trying to lock in profits before the weekend," said 
Margaret Yang, a strategist at DailyFX.
    Meanwhile, U.S. Congressional Republicans and Democrats
scrambled to pass a new round of coronavirus aid on Thursday
with lawmakers from both parties saying that failure to agree
was no longer an option.             
    The U.S. dollar rose 0.2%, just above a more than two-year
trough, lowering gold's appeal to other currency holders.       
    A break above the $1,892 area with support from a dovish U.S
Federal Reserve and a weaker dollar could signal further upside
with resistance at $1,910 ahead, Yang said.
    Analysts also said gold would find support from the Fed's
promise to continue its bond-buying programme until 
"substantial further progress" is seen in restoring full
employment and hitting its 2% inflation target.             
    There's a lot of expectation getting built into gold prices,
but with both the U.S. government and the Fed making the right
noises about further stimulus and support for the economy, gold
could climb above $1,900 by year-end, said Michael Langford,
director at corporate advisory AirGuide.
    Denting sentiment for gold further, advisers to a U.S.
regulator overwhelmingly endorsed emergency use of Moderna Inc's
         coronavirus vaccine.                         
     Silver        fell 0.9% to $25.82 an ounce. Platinum       
dropped 0.9% to $1,034.50 and palladium        eased 0.3% to
$2,334.53, but was up 0.7% in the week.  
    

 (Reporting by Nakul Iyer in Bengaluru; editing by Uttaresh.V)
  
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