PRECIOUS-Gold steadies as soft U.S. jobs data offsets Trump stimulus threat - Reuters India

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    Dec 24 (Reuters) - Gold prices steadied on Thursday as
investors balanced elevated U.S. jobless claims that undermined
a nascent economic recovery with U.S. President Donald Trump's
threat to veto a long-awaited stimulus bill. 
    
    FUNDAMENTALS
    * Spot gold        was little changed at $1,872.60 per ounce
by 0057 GMT, after climbing as much as 1% in the previous
session. U.S. gold futures        fell 0.1% to $1,877.00.    
    * In a video posted to social media on Tuesday evening,
Trump demanded lawmakers change the coronavirus aid part of the
spending bill to include $2,000 payments to each American, more
than triple the $600 per person provided.             
    * Gold has gained more than 23% this year, largely driven by
its appeal as a hedge against inflation and currency debasement
in the wake of unprecedented stimulus measures unveiled to
mitigate the impact of the pandemic.
    * Data on Wednesday showed the number of Americans filing
first-time claims for unemployment benefits unexpectedly fell
last week, though remained elevated.            
    * Data also showed consumer spending slipped in November for
the first time since the recovery from the coronavirus recession
started in May and personal income fell 1.1%.
    * Millions of COVID-19 vaccines are sitting unused in U.S.
hospitals and elsewhere, putting the government's target for 20
million vaccinations this month in doubt as pandemic cases in
the country top 18 million.             
    * The British government on Wednesday said huge swathes of
England would be placed under its strictest COVID-19
restrictions as a highly infectious virus variant sweeps the
country.                         
   * Britain and the European Union appeared close to clinching
a long-elusive trade agreement on Wednesday, raising hopes that
they were now set to avoid a turbulent economic rupture on New
Year's Day.             
   * Silver        rose 1% to $25.38 an ounce. Platinum       
climbed 0.5% to $1,007.11 and palladium        gained 0.2% to
$2,318.12. 

 (Reporting by Nakul Iyer in Bengaluru; Editing by Subhranshu
Sahu)
  

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