Gold prices reclaim $1,900

Gold last traded at $1,916 an ounce. Silver at $24.24 an ounce

NEWS SUMMARY: Precious metal prices rose Monday on bargain-hunting and a weaker dollar. U.S. stocks higher as investors grew more hopeful that lawmakers would reach a compromise on a new stimulus deal in light of President Donald Trump’s Covid-19 diagnosis and signs of a slowdown in economic recovery.

 marketwatch---"Gold prices reclaimed the $1,900 mark last week to post their highest finish in nearly two weeks, with analysts attributing the advance for the yellow metal to less than stellar economic data and traders hedging bets...'Gold prices are soaring as traders are concerned about the fragile economic data,' said Naeem Aslam, chief market analyst at AvaTrade. Consumer spending rose 1% in August, but the increase was the smallest since the U.S. reopened, and the Institute for Supply Management said its manufacturing index slipped to 54.6% in September from 56% in the prior month....The economic data 'confirmed that the economic recovery is running out of momentum and if there is no further stimulus, the recovery will stall,' he told MarketWatch. 'This uncertainty is pushing the gold price higher.'....Bullion bulls have viewed gold during the coronavirus pandemic as one of the easiest ways to hedge against a host of uncertainty fostered by the public-health disaster that has forced central banks around the world to adopt low-interest-rate policies to limit the harm to businesses....'The odds are stacked in favor of higher gold price in the coming days, especially because the U.S. elections are just around the corner, and investors want to protect themselves from this major risk event,' Aslam said."