* Dollar choppy, mining shares a drag on stock indexes
* Safe-haven assets in demand, gold set for 4th week of gains
* Officials in Washington D.C. prepare for massive protests (Updates prices, adds Wall St futures)
By Vikram Subhedar
LONDON, Jan 20 (Reuters) - The dollar recouped earlier losses on Friday while stocks were little changed as investors refrained from big bets ahead of Donald Trump's inauguration as U.S. president and a speech that could shed some light on his economic policies.
Mounting questions about how Trump's administration would carry out an ambitious agenda of lower taxes, more government spending and looser regulations have seen a pause in the post-election rally in risky assets.
Concerns over the details of Trump's inauguration speech offset better-than-expected economic data from China and comments from Federal Reserve Chair Janet Yellen in which she sounded less hawkish than the previous day.
Tens of thousands of law enforcement officers and miles of barriers were in place in Washington D.C., as officials braced for hundreds of thousands of people planning to celebrate or protest the inauguration of Trump. dollar, which has lost some of its momentum in recent weeks, was up 0.1 percent against six major currencies .DXY .
Stock futures on Wall Street ESc1 , trading close to all-time highs, were up 0.2 percent recovering some losses from the previous session.
"All eyes will be on the content and style of Trump's inauguration speech," Morgan Stanley (NYSE:MS) strategists led by Hans Redeker wrote in a note.
"The more 'Presidential' this speech comes across, the better the outcome for markets," the strategists wrote.
European stocks .STOXX were down 0.1 percent with mining shares, the biggest beneficiaries of the reflation rally spurred by Trump's election win, the biggest drag on the indexes.
Europe's benchmark index was poised for its worst week since before Trump's election win last November.
Euro zone government bond yields hit one-month highs on Friday on hopes of stronger economic growth and higher inflation.
"Trump has been talking very strongly about his desire to invest heavily and deliver fiscal expansion," said Matt Cairns, fixed income strategist at Rabobank. "Now we'll see what he has to say as president, and that could be clear soon."
Fund flows in the run-up to Friday's inauguration indicate investors moving into less risky assets and locking in some profits in banking stocks and high-yield debt.
Precious metals funds saw their first inflows in 10 weeks, according to data from fund tracker EPFR and Bank of America-Merrill Lynch while money was pulled from funds focused on financials stocks and high-yield bonds.
Gold prices were poised for a fourth straight week of gains. U.S. gold futures GCcv1 rose 0.1 percent to $1,202.7 per ounce. Spot gold XAU= was down 0.2 percent.
Also in commodity markets, oil prices rose, supported by expectations of tighter supply and on reports of record Chinese demand. O/R
China's economy grew a faster-than-expected 6.8 percent in the fourth quarter, boosted by higher government spending and record bank lending, giving it a tailwind heading into what is expected to be a turbulent year. crude LCOc1 , the international benchmark, rose 29 cents to $54.45. U.S. West Texas Intermediate (WTI) crude oil futures CLc1 were trading up 31 cents at $51.68 per barrel.