PRECIOUS-Gold slides to 2-month low as dollar extends rally

* Gold down for a fourth straight session
* Silver slumps as much as 5.3% to more than two-month low
* Platinum hits lowest since July 17
* Interactive graphic tracking global spread of coronavirus:
https://graphics.reuters.com/world-coronavirus-tracker-and-maps/

(Updates prices)
By Nakul Iyer
Sept 24 (Reuters) - Gold dropped to a more than two-month
low on Thursday, hurt by a robust dollar, while the lack of
additional stimulus measures to aid the virus-stricken economy
dented sentiment further.
Spot gold XAU= had fallen 0.3% to $1,857.88 per ounce by
1211 GMT, extending losses into a fourth session. Earlier in the
day, it hit its lowest since July 22 at $1,847.57.
U.S. gold futures GCv1 were down 0.4% at $1,860.30.
"As long as the greenback is recovering strength, bullion is
going to lose out," said ActivTrades chief analyst Carlo Alberto
De Casa.
While it would be premature to declare the start of a new
bearish movement, the coming days will be decisive in whether
gold can rebound to $1,860 or continue to decline, he added.
The dollar index .DXY held recent gains, making bullion
more expensive for holders of other currencies.
Adding to the uncertain outlook for gold, U.S. Federal
Reserve officials reaffirmed their low interest rate policy
until the labour market recovers or inflation rises to 2%, but
failed to offer a path for further stimulus. "It seems the Fed has pretty much tied themselves into no
immediate action... So, the stimulus side of this trade is
looking rather bleak in the short term," Edward Moya, a senior
market analyst at OANDA, said.
Gold is viewed as a hedge against inflation, currency
debasement and economic uncertainty.
Gold's fall came despite increased doubts over an economic
recovery underscored by data showing business activity in the
United States and Europe cooled in September. Investors are waiting for data on U.S. weekly jobless
claims, which are expected to remain high despite showing a
slight decline. Elsewhere, silver XAG= fell as much as 5.4% to $21.64 per
ounce, its lowest since July 22, and was last down 2.9% at
$22.20 per ounce.
Platinum XPT= fell 0.9% to $830.91 per ounce having hit a
more than two-month low of $827.50 earlier, and palladium XPD=
dipped 0.4% to $2,212.00.