* Dollar rises to near one-week high
* Traders eye U.S. initial jobless claims on Nov. 12
* Fed policymakers suggest more specific fiscal support
* Interactive graphic tracking global spread of coronavirus: (Adds analyst comments and updates prices)By Asha SistlaNov 11 (Reuters) - Gold eased on Wednesday on a firmerdollar and market optimism over a potential COVID-19 vaccine,but bets for continued monetary support to revive a pandemic hiteconomy capped bullion's declines.
Spot gold fell 0.3% to $1,870.20 per ounce by 1307GMT, while U.S. gold futures slipped 0.4% to $1,868.70.
The dollar, considered a rival safe-haven, rose 0.3% to anear one-week high, against a basket of currencies. "The (gold) market is very, very cautious. That's why, themoment there's news out or the dollar strengthens, the marketgoes with it," said Afshin Nabavi, senior vice president atprecious metals trader MKS SA, adding that moves were alsolimited by the Veteran's Day holiday in the United States."The central banks will need to continue to make money tothrow in the streets so that the system doesn't fall apart... Sountil we don't break (below) $1,820, it again feels like goldmay want to test $1,900."
Gold fell as much as 5.2% on Monday after drugmaker Pfizer said its COVID-19 vaccine was more than 90% effectivebased on initial trial results, with the resultant optimismcontinuing to fuel a strong run in equities. But the breakthrough highlighted the logistical challengesof distributing hundreds of millions of doses once it becomesavailable. The news has slightly reduced the need for stimulus but thevaccine is not yet available, said Quantitative CommodityResearch analyst Peter Fertig.Non-yielding gold has risen about 23% so far this year,supported mainly by near-zero interest rates and unprecedentedglobal stimulus, since it's considered a hedge against likelyinflation and currency debasement.
Federal Reserve policymakers on Tuesday highlighted the needfor more targeted fiscal support from the government. Investors now await U.S. weekly jobless claims on Thursday.Silver was down 0.3% at $24.14 per ounce. Platinum fell 0.5% to $878.84, while palladium rose 0.2% to$2,459.61.
(Reporting by Asha Sistla and Nakul Iyer in Bengaluru, Editingby Alexandra Hudson and Louise Heavens)