* Yields will be key consideration for gold traders - strategist
* Caution sets in ahead of Janet Yellen's testimony before Senate
* Interactive graphic tracking global spread of coronavirus: https://tmsnrt.rs/3mvcUoa (Updates prices)
By Sumita Layek
Jan 19 (Reuters) - Gold prices ticked up on Tuesday, off a 1-1/2-month low hit in the previous session, as the U.S. dollar slipped while prospects of further global stimulus underpinned the safe-haven metal.
Spot gold XAU= edged up 0.1% to $1,837.91 per ounce by 0725 GMT, recovering from its lowest since Dec. 2 at $1,809.90 hit on Monday. U.S. gold futures GCv1 gained 0.5% to $1,839.80.
"The key factor appears to be the (U.S.) currency," said Michael McCarthy, chief market strategist at CMC Markets, adding that despite a recent bounce in the dollar, there can be further weakening and that will support bullion.
The dollar .DXY fell from a four-week high marked in the previous session, ahead of U.S. Treasury Secretary nominee Janet Yellen's testimony before the Senate. The greenback started the year with a near 2% rally, supported by a rise in U.S. Treasury yields. USD/ 10-year Treasury yields US10YT=RR were range-bound, but held above 1%. US/
"Bond markets are clearly sitting on a change in conditions, and we might have seen the lows for interest rates for this cycle ... that'll be the key consideration for gold traders this year," McCarthy said.
The next round of fiscal stimulus in the United States was now in focus with President-elect Joe Biden's $1.9 trillion stimulus package proposal. zone finance ministers also pledged continued fiscal support for their economies. central bank members are cognizant that even though equity markets are doing well, the underlying economy is still very weak and stimulus measures are needed," said Michael Langford, director at corporate advisory AirGuide.
With a weaker dollar, negative real yields and potential for a surge in inflation, investment flows to exchange traded funds and a pick-up in physical gold demand in China, gold's upside is very compelling, Langford said.
Silver XAG= fell 0.9% to $25.10 an ounce. Platinum XPT= rose 1.2% to $1,091.71 and palladium XPD= climbed 0.2% to $2,376.87.