Nov 24 (Reuters) - Gold prices eased in early Asian trade on
Tuesday as COVID-19 vaccine developments and upbeat U.S.
manufacturing data bolstered investors' hopes of a swift
economic recovery.
FUNDAMENTALS
* Spot gold XAU= fell 0.1% to $1,834.40 per ounce by 0105
GMT. It fell as much as 2.2% on Monday, hitting a four-month
trough.
* U.S. gold futures GCv1 were down 0.3% at $1,833.00.
* AstraZeneca AZN.L 's COVID-19 vaccine, likely to be
cheaper to make, easier to distribute and faster to scale-up
than rivals, could be up to 90% effective, while U.S. officials
prepared to begin inoculating Americans by mid-December.
* U.S. business activity expanded at the fastest rate in
more than five years in November led by the quickest pickup in
manufacturing since September 2014, fuelling optimism of a swift
recovery. * U.S. President-elect Joe Biden is expected to tap former
Federal Reserve Chair Janet Yellen as U.S. Treasury Secretary, a
move welcomed by investors who tout her experience at the
central bank as critical in the effort to revive the
pandemic-hit economy.
* Biden on Monday was formally given the go-ahead by a
federal agency to begin his transition to the White House,
shortly after the battleground state of Michigan certified him
as the winner there.
* Holdings of the SPDR Gold Trust GLD , the world's largest
gold-backed exchange-traded fund, fell 0.6% to 1,213.17 tonnes
on Monday from 1,220.17 tonnes on Friday. * JPMorgan JPM.N has earned record revenue of around $1
billion so far this year from trading, storing and financing
precious metals, two sources familiar with the matter told
Reuters. * Silver XAG= dropped 0.1% to $23.55 an ounce. Platinum
XPT= rose 0.8% to $933.78, while palladium XPD= dipped 0.1%
to $2,352.15.
DATA AHEAD (GMT)
0700 Germany GDP Detailed Q3
1500 US Nov. Consumer Confidence