PRECIOUS-Gold steadies near record high as dollar bounces on U.S.-China row

* Silver slips, but up more than 16% so far this week
* Gold set for ninth straight weekly rise
* Interactive graphic tracking global spread of coronavirus:
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https://tmsnrt.rs/3aIRuz7 in an external browser

(Updates prices)
By Brijesh Patel
Aug 7 (Reuters) - Gold steadied near a record high on Friday
as the dollar regained ground as a hedge against another
escalation in U.S.-China tensions, but concerns over a worsening
pandemic kept bullion on track for its longest weekly gain in
nearly a decade.
Spot gold XAU= hit an all-time high of $2,072.50 in early
trade and by 0744 GMT it was down 0.1% at $2,061.41. It has
added 4.4% so far this week in what would be its ninth straight
weekly gain. U.S. gold futures GCcv1 rose 0.1% to $2,070.80.
Silver XAG= was down 2.1% at $28.36, but has gained nearly
18% so far this week.
"It's difficult to hold anything but a constructive view (on
gold)," said ING analyst Warren Patterson. "Whilst the pace of
the rally may slow, there certainly does seem to further upside
in the near term, and for the remainder of the year."
Limiting gold's advance, the dollar .DXY rose 0.3% against
rivals as President Donald Trump's decision to ban U.S.
transactions with two popular Chinese apps weighed on risk
sentiment. USD/ MKTS/GLOB
The U.S. currency has in many instances been the preferred
refuge during flare-ups between Washington and Beijing.
Gold, meanwhile, has climbed more than 35% so far this year
as investors remained wary of a U.S. economic recovery as
COVID-19 cases rise.
Gold is likely to hover around $2,020-2,080 an ounce in the
near term, with key focus on whether there is any progress on
COVID-19 vaccines, said National Australia Bank economist John
Sharma.
Investors await closely-watched U.S. employment data, due at
1230 GMT, which is expected to show a payroll increase of 1.58
million in July, compared to 4.8 million in the previous month.
"A below consensus number could provide another boost for
gold," ING's Patterson said.
Elsewhere, platinum XPT= dropped 2.2% to $975.80 an ounce
and palladium XPD= fell 1.8% to $2,181.38.