PRECIOUS-Gold holds above $1,800 as virus cases spike

(Updates prices)
* Silver scales 10-month peak at $19.02/oz
* Dollar near multi-week low
* U.S. weekly jobless claims due at 1230 GMT
* GRAPHIC-2020 asset returns: http://tmsnrt.rs/2jvdmXl
* Interactive graphic tracking global spread of coronavirus:
open
https://tmsnrt.rs/3aIRuz7 in an external browser

By Eileen Soreng
July 9 (Reuters) - Gold held above $1,800 on Thursday, close
to the near nine-year peak hit in the previous session, on
growing fears that surging coronavirus cases could stall a
global economic recovery, with the focus shifting to U.S. jobs
data later in the day.
Spot gold XAU= was little changed at $1,809.19 per ounce
at 1133 GMT. It climbed to its highest since September 2011 at
$1,817.71 on Wednesday. U.S. gold futures GCv1 were 0.3% lower
at $1,816.
"The combination of global central bank easing, geopolitical
risks, the persisting pandemic impact and global recession could
continue to push gold prices higher in the medium term," said
Bank of China International analyst Xiao Fu.
But the analyst also said: "There's volatility ahead ...
There could be some better economic data or (signs economies
are) returning to normal, it could slow down the rally to a
certain extent."
Global coronavirus cases exceeded 12 million on Wednesday,
with more than half a million dead. In the United States, cases
have been on the rise in 42 of the 50 states over the past two
weeks, according to a Reuters analysis.
Keeping alive worries over the economic fallout, U.S.
Federal Reserve officials on Wednesday suggested the recovery in
the world's largest economy may be stalling. Meanwhile, Britain's finance minister promised an additional
$38 billion to try to head off an unemployment crisis.
Stimulus tends to boost gold, which is considered a hedge
against inflation and currency debasement.
The dollar traded near multi-week lows, while European
stocks rose as China's markets continued their charge. .EU
USD/
"For as long as COVID-19 stimulates concerns around another
round of lockdowns and slowing global growth, gold may remain in
fashion despite rising stock markets," said FXTM analyst Lukman
Otunuga.
Among other metals, palladium XPD= climbed 1.8% to
$1,951.02 per ounce, while platinum XPT= was 0.9% higher at
$851.23.
Silver XAG= gained 1.1% to $18.98, having earlier hit its
highest since September 2019 at $19.02.