Gold Settles Near $2,070 per Ounce

Gold prices rose on Thursday for the fifth consecutive session, amidst an increase in demand for safe havens and the US Dollar (USD) returning to losses after briefly attempting recovery.

Gold futures gained $20.10 or 1.2% to settle at $2,069.40 per ounce.

Markets are still anticipating a deal in the US Congress over a new stimulus package.

President of the Federal Reserve Bank of Richmond, Thomas Barkin, recently said that the US economy faces the risk of a larger downturn than previously expected if Congress does not provide the needed support through another stimulus package.