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PRECIOUS METALS-Gold is stable; Investors assess optimism over vaccine and rise in infections

By Asha Sistla Nov 18 (.) – Gold traded in a tight range on Wednesday as investors were torn between optimism over the development of coronavirus vaccines and the possibility of more economic support as the number of infections soars. in some countries. * At 1026 GMT, spot gold was little changed at $ 1,877.65 an ounce, while US gold futures were down 0.5% at $ 1,876.60. * Gold fell more than 1% on Monday, after Moderna became the second US laboratory to announce a successful late-stage trial of its vaccine. * “On the one hand, optimism surrounding the latest vaccine developments is supporting risk appetite, affecting safe-haven assets. However, the rapid increase in the number of coronavirus cases in Europe and the United States continues fueling a feeling of discomfort and wariness, “said Lukman Otunuga of FXTM. * “(Gold) is likely to gain strength from dollar weakness in the short term, until more news is revealed on the vaccine front,” he added. * The dollar index lost 0.2%, making gold cheaper for holders of other currencies. * Bullion, considered a hedge against inflation and currency depreciation, has gained more than 24% this year, benefiting from massive global stimulus. * In other precious metals, silver was up 0.2% at $ 24.51 an ounce; palladium was up 1% at $ 2,340.87; and platinum was up 0.9% at $ 933.53. (Edited in Spanish by Carlos Serrano)