* Equity markets bounce after presidential debate
* Gold snaps six-day winning streak
* Silver may test support at $18.06 in 3 months- technicals (Adds comment, updates prices)
By Swati Verma
BENGALURU, Sept 27 (Reuters) - Gold edged lower on Tuesday after equity markets bounced back, hinting investors were turning to riskier assets in a belief that Democrat Hillary Clinton won the first U.S. presidential debate against Republican Donald Trump.
Asian shares recovered from an early bout of nerves while the Mexican peso surged on Tuesday. MKTS/GLOB
"Leading into this event (presidential debate), positioning in the gold market buying wasn't aggressive in either direction, it was fairly neutral. I suspect the move subsequent to the first debate is going to be relatively muted," said ANZ analyst Daniel Hynes.
However, the wave of risk-on trading as a consequence of the U.S. Presidential election could weigh on gold prices in the short-term with a possible break to the upside amid heightened volatility, Hynes added.
Spot gold XAU= was down 0.1 percent at $1,336.61 an ounce by 0727 GMT. By falling on Tuesday, gold snapped a six-day winning streak.
U.S. gold futures GCcv1 eased 0.3 percent to $1,340.20 an ounce.
"Flows were overall fairly modest given the amount of coverage this debate had. Gold dipped as expected on the back of Clinton being seen as victorious," said Alex Thorndike, senior precious metals dealer, MKS PAMP Group.
Markets have tended to see Clinton as the candidate of the status quo, while few are sure what a Trump presidency might mean for U.S. foreign policy, trade and the domestic economy. said gold could be under pressure if Trump emerged as a winner in the November elections, as the dollar was likely to benefit from the Republican candidate's stance against low interest rates.
"In the long term, if Trump becomes U.S. president, its effect on the dollar would be positive... Trump has always criticized the Fed for easing the monetary policy," said Jiang Shu, chief analyst at Shandong Gold Group.
Meanwhile, the dollar index .DXY , which weighs the greenback against a basket of other currencies, was steady at 95.276. USD/
Among other precious metals, silver XAG= edged 0.5 percent higher to $19.52 an ounce after falling 1.2 percent in the previous session, its biggest loss in over two weeks.
Platinum XPT= was up 0.9 percent at $1,044.90 after falling 1.4 percent in the prior day.
Palladium XPD= gained 1.2 percent to $701.20 per ounce. It was down 1 percent on Monday, the biggest fall in two weeks.