Gold Closes Higher for Second Session in Row

Gold prices rose on Monday, for the second consecutive session, opening the week with a positive performance after dropping on Thursday by 2% to its lowest level since November.

The yellow metal gains come amid anticipation for an increase in the United States government stimulus spending.

The Democrats are working to pass a $1.9 trillion rescue plan, proposed by U.S. President Joe Biden, while the Republicans are offering a new $600 billion package.

Gold futures for February delivery closed higher by $21, or 1.2%, at $1,831.90 per ounce.