GLOBAL MARKETS-Stocks shake off stimulus doubts; gold whipsawed

* Bond yields head higher ahead of record supply
* Silver bounces after massive tumble
* Graphic: 2020 asset performance http://tmsnrt.rs/2yaDPgn
* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh

(Updates prices, changes comment, dateline; previous LONDON)
By Rodrigo Campos
NEW YORK, Aug 12 (Reuters) - Stocks rose the most in a month
on Wednesday on continued bets for more stimulus in the United
States even as that was put in doubt late on Tuesday, while gold
was whipsawed and silver clawed back from a massive drop.
The euro strengthened versus the greenback and the dollar
index gave back some of its recent gains, barely changed mid-way
this week following seven consecutive weekly declines.
Recently battered technology stocks reclaimed leadership on
Wall Street and the benchmark S&P 500 was again brushing against
its record highs, even as U.S. Treasury Secretary Steven Mnuchin
said the White House and top Democrats in Congress may not be
able to reach a deal on coronavirus aid.
Both U.S. parties traded jabs on who was to blame for
blocking relief to tens of millions of Americans. The Dow Jones Industrial Average .DJI rose 256.2 points,
or 0.93%, to 27,943.11, the S&P 500 .SPX gained 48.09 points,
or 1.44%, to 3,381.78 and the Nasdaq Composite .IXIC added
237.14 points, or 2.2%, to 11,019.96.
The S&P is just below its intraday record high of 3,393.52.
The index slipped on Tuesday after seven straight days of gains.
"We're seeing buyers show up very quickly, any chance they
get when the market declines. To me, that's a very bullish
sign," said Adam Sarhan, chief executive of 50 Park Investments
in New York.
The pan-European STOXX 600 index .STOXX rose 1.11% and
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
1.26%.
Emerging market stocks rose 0.26%. MSCI's broadest index of
Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.34%
higher, while Japan's Nikkei .N225 rose 0.41%.
The U.S. election campaigns are set to gather momentum after
Democratic presidential candidate Joe Biden selected Senator
Kamala Harris as his vice president on Tuesday. AS GOLD
Bond markets were also driving sentiment. The 10-year U.S.
Treasuries yield US10YT=RR last fell 5/32 in price to yield
0.6747%, from 0.658% late on Tuesday, ahead of a record offering
on benchmark notes by the Treasury.
Oil prices also climbed after government data showed U.S.
oil inventories fell across the board, bolstering hopes for
increased fuel demand in the world's biggest economy.
U.S. crude CLc1 recently rose 1.44% to $42.21 per barrel
and Brent LCOc1 was at $45.12, up 1.39% on the day.
The dollar index =USD fell 0.366%, with the euro EUR= up
0.48% to $1.1795.
The Japanese yen weakened 0.34% versus the greenback to
106.84 per dollar, while Sterling GBP= was last trading at
$1.305, up 0.02% on the day.
Gold swung from being down 2.5% to adding 1.8% to $1,945.58
an ounce, a day after it suffered its biggest daily fall in
seven years. Silver was even more wild, rising as much as 6%
after a 15% plunge on Tuesday. XAG= GOL/R
Bullion has gained 28% so far this year, as investors buy it
as a hedge against fears of currency debasement as central banks
flood economies with free money in response to the global
coronavirus crisis.

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Global assets http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
2020 Global asset performance https://tmsnrt.rs/3iA4Cd2
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