PRECIOUS-Gold slips as dollar firms but still set for first weekly gain in three

* Silver poised for best week in five, up 1.5% so far
* Platinum slips from over 4-yr high, but set for 2nd weekly
gain
* Interactive graphic tracking global spread of coronavirus:
https://tmsnrt.rs/3mvcUoa

(Updates prices)
By Asha Sistla
Jan 22 (Reuters) - Gold prices fell more than 1% on Friday
as U.S. Treasury yields and the dollar held firm, although
expectations of a big U.S. fiscal stimulus kept bullion on
course for its first weekly gain in three.
Spot gold XAU= had dipped 1.3% to $1,845.21 per ounce by
1233 GMT, retreating from its highest since Jan. 8 hit on
Thursday. U.S. gold futures GCv1 fell 0.9% to $1,849.50.
"The challenge for gold is it seems well supported around
the $1,800 levels but the dollar seems to have pulled out of its
lows and not convinced that its small recovery has run its
course and that continues to be a drag (on gold)," said OANDA
analyst Craig Erlam.
"Higher yields and U.S. dollar is driving the consolidation
that we're seeing in gold."
Benchmark 10-year U.S. Treasury yields US10YT=RR held firm
above 1%, helping the dollar gain. US/ USD/ On the week, gold is up 0.8% as investors remain hopeful
about the passage of U.S. President Joe Biden's $1.9 trillion
stimulus plan. In other metals, platinum XPT= dipped 3.2% to $1,090.98.
The auto-catalyst metal was still set to post its second
consecutive weekly gain, up 1.3%, after hitting its highest
since Aug. 12, 2016 on Thursday.
"As a result, the price differential to gold narrowed for a
time to $720 per troy ounce. The last time it was any lower was
in February last year," said Commerzbank analyst Carsten Fritsch
in a note.
"There was no specific trigger for the price surge. The
price may have been pushed up by technical buying after it
exceeded its previous high at $1,130."
Silver XAG= shed 2.8% to $25.22 an ounce, but was set to
register a weekly gain after falling for the last two weeks, up
1.7% so far. Palladium XPD= fell 0.3% to $2,354.61.