PRECIOUS-Gold hits highest since Sept. 2011, silver at 4-year peak

(Updates prices)
* Silver jumps over 2% to $19.81/oz
* Supply concerns in Latin America helped drive silver
higher
* Markets expect EU COVID recovery deal coming as summit
drags on
* Interactive graphic tracking global spread of coronavirus:
open
https://tmsnrt.rs/3aIRuz7 in an external browser

By Nakul Iyer
July 20 (Reuters) - Gold prices jumped to their highest
since September 2011 on Monday, and silver hit a near four-year
peak as a spike in COVID-19 infections and hopes for increased
stimulus measures supported safe-haven demand.
Spot gold XAU= rose 0.4% to $1,815.34 per ounce by 1:55
p.m. EDT (1755 GMT), having touched a high of $1,820.06 earlier
in the session.
U.S. gold futures GCv1 settled up 0.4% to $1,817.40 per
ounce.
"Gold's gaining popularity exponentially right now, just
because of all the inflationary aspects: the yield curve, money
printing, worries about the economy and COVID," said Michael
Matousek, head trader at U.S. Global Investors.
"When you see something (happen) in the bull market, you
want to buy the pullbacks. ... You have a lot of people
targeting the $1,825 level; if it breaks above, it could go
higher."
Gold is trading below its all-time peak of $1,920.30 an
ounce hit in September 2011, with prices mainly boosted by a
wave of monetary stimulus measures to shelter the impact of the
pandemic.
Signs that the European Union countries are willing to
compromise on a 1.8 trillion-euro ($2 trillion) coronavirus
stimulus plan, should also keep bullion well supported.
Cases of the coronavirus, which has infected more than 14
million people globally, continue to soar in the United States,
with experts at the U.S. Centers for Disease Control and
Prevention warning that cases and deaths could rise this autumn
and winter. Silver XAG= rose 2.3% to $19.76 per ounce, having hit a
peak since September 2016 at $19.81 on increasing safe-haven
flows.
Recovering industrial demand alongside supply concerns in
Latin America amid rising coronavirus cases that threaten its
supply chains have also helped drive silver prices higher,
Societe Generale said in a note.
Palladium XPD= gained 2.1% to $2,063.51 per ounce, while
platinum XPT= rose 0.6% to $842.60 per ounce.