* WPIC switches 2021 platinum forecast from deficit to surplus<\/p>\n
* Platinum hits lowest level since Aug. 20 (Recasts, adds quotes, updates prices)<\/p>\n
Sept 9 (Reuters) – Gold slipped on Thursday to hover near two-week lows as a stronger U.S. dollar weighed on prices, while investors sought cues from major central banks as policymakers signalled support for tapering pandemic-era stimulus.<\/p>\n
Spot gold fell 0.1% to $1,787.81 per ounce by 0341 GMT, after touching its lowest level since Aug. 26 at $1,781.30 in the previous session.<\/p>\n
U.S. gold futures eased 0.2% to $1,790.00.<\/p>\n
Nerves among investors continue over the pace of the global recovery and this has continued to push the greenback higher, said Jeffrey Halley, a senior market analyst, Asia Pacific at OANDA, adding that \u201cdollar strength places gold in grave danger of a material fall in prices.\u201d<\/p>\n
Gold could test support at $1,780 and a failure could see losses extend to $1,750, Halley said.<\/p>\n
Rival safe haven \u2014 the dollar \u2014 was buoyed by cautious risk sentiment, denting the bullion\u2019s appeal for those holding other currencies.<\/p>\n
The U.S. economy \u201cdownshifted slightly\u201d in August as the renewed COVID-19 surge hit dining, travel and tourism, the U.S. Federal Reserve reported on Wednesday.<\/p>\n
However, several Fed policymakers have signalled that the central bank remains on track to trim its massive asset purchases this year. Officials will meet again on Sept. 21 and 22<\/p>\n
Markets also eyed European Central Bank\u2019s policy decision due at 1145 GMT, where it could take a token step towards unwinding the emergency economic aid while still signalling copious support for years to come.<\/p>\n
Non-yielding gold tends to gain in a low interest-rate environment, while some investors also view the metal as a hedge against higher inflation that could follow stimulus measures.<\/p>\n
Silver fell 0.1% to $23.94 per ounce, while palladium dropped 0.4% to $2,243.18.<\/p>\n
Platinum hit a near three-week low of $971.49 and was last down 0.4% to $975.78.<\/p>\n
The World Platinum Investment Council (WPIC) expects the global platinum market to be in surplus this year as mine supply ramps up and investment demand falls.<\/p>\n