Gold prices edged higher on Thursday, as concerns over rising coronavirus cases dented hopes of a swift economic recovery, driving investors towards the safe-haven metal.

FUNDAMENTALS

* Spot gold was up 0.2% at $1,764.20 per ounce as of 0059 GMT.

* On Wednesday, prices hit a near eight-year high of $1,779.06. But they ended lower as investors booked profits, snapping a three day winning streak.

* U.S. gold futures GCv1 eased 0.1% to $1,773.60.

* Three U.S. states reported record increases in new cases on Wednesday -- Florida, Oklahoma and South Carolina. More than 9.3 million people have been reported to be infected by the coronavirus globally. 

* The governors of New York, New Jersey and Connecticut ordered travellers from nine other U.S. states to quarantine for 14 days on arrival. 

* The International Monetary Fund (IMF) slashed its 2020 global output forecasts further as it sees deeper and wider damage from the pandemic than first thought. 

* Central banks worldwide have adopted aggressive stimulus measures and kept interest rates low during the crisis.

* Gold, considered a safe investment during times of political and financial uncertainty, tends to benefit from widespread stimulus measures as its is widely viewed as a hedge against inflation and currency debasement.

* Indicative of sentiment, SPDR Gold Trust holdings GLD , rose 0.65% to 1,176.85 tonnes. urn:newsml:reuters.com:*:nAZN00HU1V

* Asian markets were set to follow a tumble in Wall Street stocks after surging coronavirus cases and the IMF's subdued projections shook confidence in a recovery. 

* The dollar index .DXY rose 0.1% against a basket of major currencies. 

* Palladium jumped 0.9% to $1,880.25 per ounce, platinum gained 0.2% to $801.43 and silver rose 0.2% at $17.56.

 

DATA/EVENTS (GMT) 1230 US Durable Goods May 1230 US GDP Final Q1 1230 US Initial Jobless Claims Weekly

(Reporting by Brijesh Patel in Bengaluru; Editing by Rashmi Aich) ((Brijesh.Patel1@thomsonreuters.com; Within U.S. +1 651 848 5832, Outside U.S. +91 8067493865; Reuters Messaging: Brijesh.Patel1.thomsonreuters.com@reuters.net))