PRECIOUS-Gold dips as investors brace for data under virus cloud

(Recasts, updates prices)
* Caution grips world stock markets ahead of corporate
earnings
* Novel coronavirus infects more than 2.38 mln people
globally
* Interactive graphic tracking the global spread: open https://tmsnrt.rs/3aIRuz7
in an external browser

By Brijesh Patel
April 20 (Reuters) - Gold eased on Monday, having earlier
touching its lowest in more than a week, as the dollar
strengthened while investors braced for further cues on the
economic toll from the coronavirus in a week lined with
corporate earnings and data.
Spot gold XAU= was down 0.2% to $1,680.78 per ounce by
1132 GMT, having touched its lowest since April 9, at $1,670.55.
The metal shed as much as 2% on Friday after global equity
markets gained on hopes the United States would reopen its
economy. U.S. gold futures GCv1 eased 0.3% to $1,694.40.
"The dollar has remained strong, which may be aiding these
moves in gold," OANDA analyst Craig Erlam said, adding gold
could also be seeing some profit-taking continuing from last
week.
"If gold can break and hold below $1,680, it could trigger a
move back towards $1,640 or maybe even $1,600. However, I still
think it's bullish longer-term; the sheer amount of stimulus and
uncertainty should continue to support prices."
Safe-haven gains for the U.S. dollar limited gold's appeal,
with the dollar index .DXY gaining 0.2% as global growth fears
intensify. USD/ Global stock markets were cautious ahead of
this week's corporate earnings. MKTS/GLOB
Bullion has on occasion moved in tandem with stock markets
this year, with recent sharp sell-offs prompting investors to
sell precious metals to cover their losses elsewhere.
"So, as we get fears that this recession will be substantial
and disruption in economic activity will be longer lasting, gold
is one of those things that will be liquidated," said DailyFx
currency strategist Ilya Spivak.
In the United States, governors in states hardest hit by the
pandemic sparred with President Donald Trump over his claims
they have enough tests and should quickly reopen their economies
as more protests are planned over the extension of stay-at-home
orders. More than 2.38 million people have been reported to be
infected by the novel coronavirus globally and 164,918 have
died, a Reuters tally showed.
Countries around world have rolled out massive monetary and
fiscal measures to limit economic damage from the virus.
In the latest move, Japan is boosting its new economic
stimulus package to expand cash payouts to its citizens.
Palladium XPD= edged 0.5% higher to $2,166.75 per ounce,
platinum XPT= rose 0.2% to $776.98, while silver XAG= gained
0.1% to $15.14.