Oct 1 (Reuters) - Gold prices steadied in early trade on Thursday as a softer dollar and progress on another U.S. coronavirus relief package countered pressure from an upbeat U.S. private payrolls data.
FUNDAMENTALS
* Spot gold XAU= was steady at $1,884.67 per ounce by 0058 GMT.
* U.S. gold futures GCv1 were down 0.2% at $1,890.90.
* The dollar index .DXY hovered around a one-week low hit in the previous session. USD/
* U.S. Treasury Secretary Steven Mnuchin on Wednesday said talks with House Speaker Nancy Pelosi made progress on COVID-19 relief legislation, and the House of Representatives postponed a vote on a $2.2 trillion Democratic plan to allow more time for a bipartisan deal to come together. Gold, seen as a hedge against inflation and currency depreciation, has gained 24% so far this year, supported by monetary stimulus from major central banks and governments.
* Latest data from ADP (NASDAQ:ADP) National Employment Report showed U.S. private employers stepped up hiring in September. Another piece of data, however, showed U.S. gross domestic product plunged at a 31.4% annualized rate in the second quarter, the steepest drop since the government started keeping records in 1947. European Central Bank President Christine Lagarde set the scene on Wednesday for a change of strategy that could align the ECB with the U.S. Federal Reserve, possibly including a commitment to let inflation overshoot after it has been low for too long. Silver XAG= rose 0.2% to $23.25 per ounce, platinum XPT= was up 0.4% to $891.95 and palladium XPD= edged 0.2% higher to $2,309.07.
DATA/EVENTS (GMT)
0750 France Markit Mfg PMI
Sept
0755 Germany Markit/BME Mfg PMI
Sept
0800 EU
Markit Mfg Final PMI
Sept
0830 UK
Markit/CIPS Mfg PMI Final
Sept
0900 EU
Unemployment Rate
Aug
1230 US
Consumption Adjusted MM
Aug
1230 US
Initial Jobless Clm
Weekly
1345 US
Markit Mfg PMI Final
Sept
1400 US
ISM Manufacturing PMI
Sept