* Gold's trajectory still positive -analysts
* Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser (Adds graphic, updates prices)
By Nakul Iyer
Aug 11 (Reuters) - Gold slid more than 2% on Tuesday as the dollar clung to recent gains and risk appetite was boosted by an expected U.S. stimulus deal, prompting investors to take profits from bullion's explosive run to a record high.
Spot gold XAU= fell 2% to $1,987.49 an ounce by 1053 GMT, retreating from last week's record high of $2,072.50. U.S. gold futures GCcv1 declined 2.1% to $1,996.40.
"The retreat was inevitable," said StoneX analyst Rhona O'Connell, adding that gold has been technically overbought for a while.
That gold did not advance further despite rising geopolitical tensions showed that a lot of supportive elements for gold have already been priced in, she said.
Adding to gold's headwinds, global equities hit multi-month highs on expectations that U.S. Congress will agree a massive stimulus deal while looming trade talks raised hopes of an easing in tensions between the United States and China. MKTS/GLOB .EU dollar, too, clung to recent gains, making gold less attractive for investors holding other currencies. DXY USD/
Beyond technical triggers, the fundamental reason for gold's moves is that the dollar weakness of the past few weeks has paused, said Saxo Bank analyst Ole Hansen.
But most analysts still expect a positive trajectory for gold, with the metal having gained 31% this year as unprecedented money printing by central banks and near-zero interest rates pushed investors into bullion as a hedge against possible currency debasement and inflation.
The recent "washout of speculative long positioning sets gold up for a more balanced rally going forward", said Jeffrey Halley, a senior market analyst at OANDA.
In other precious metals, silver XAG= fell 3.1% to $28.25 an ounce, platinum XPT= was down 1.5% at $971.90 and palladium XPD= dropped 2.6% to $2,161.28.
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https://tmsnrt.rs/33PsAN8 Gold's correction overdue?
https://tmsnrt.rs/33NwQgc
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