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PRECIOUS-Gold inches lower on firmer dollar, U.S. stimulus worries

    Jan 26 (Reuters) - Gold prices eased on Tuesday, as a
stronger dollar and concerns about the size of U.S. coronavirus
relief package dented the metal's appeal. 
        
    FUNDAMENTALS
    * Spot gold        was down 0.1% to $1,853.99 per ounce by
0054 GMT. U.S. gold futures        eased 0.1% to $1,852.90. 
    * The dollar        firmed against an index of rivals,
making gold expensive for holders of other currencies.        
    * U.S. President Joe Biden's $1.9 trillion pandemic relief
proposal has been met with objections from Republicans, who have
called the proposal too expensive and pushed for a smaller plan
targeting vaccine distribution.            
    * Gold is considered a hedge against inflation, likely from
widespread stimulus.
    * Janet Yellen won overwhelming Senate confirmation as the
first female U.S. Treasury secretary on Monday and will play a
key role in working with Congress on Biden's coronavirus
stimulus plans.            
    * The U.S. Federal Reserve's two-day policy meeting is
scheduled to begin later in the day.            
    * Moderna Inc          said on Monday it believes its
COVID-19 vaccine protects against new variants found in Britain
and South Africa, as global coronavirus cases rose to more than
99 million.                        
    * The U.S. House of Representatives on Monday delivered to
the Senate a charge accusing former President Donald Trump with
inciting insurrection in a speech to his supporters before the
deadly attack on the Capitol.            
    * Silver        was flat at $25.30 an ounce, platinum       
lost 0.6% to $1,091.40, and palladium        fell 0.3% to
$2,327.16.
    
DATA/EVENTS AHEAD (GMT)
0700  UK      Claimant Count Unemployment  Dec
0700  UK      ILO Unemployment Rate        Nov
1200  Brazil  IPCA-15 Mid-Month CPI        Jan
1500  U.S.    Consumer Confidence          Jan
1600  Russia  Industrial Output            Dec
--    U.S.    U.S. Federal Reserve's Federal Open Market
Committee starts its two-day meeting on interest rates

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