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PRECIOUS-Gold jumps 1% on stimulus hopes, sombre dollar

    * Platinum hits more than one-week high of $908.50/oz
    * Gold could move back to $2,000/oz again- analyst 
    * Interactive graphic tracking global spread of coronavirus:
here

 (Adds comments, updates prices)
    By Nakul Iyer
    Oct 1 (Reuters) - Gold advanced past the $1,900 mark on
Thursday, boosted by an easing dollar and increased investor
confidence that there will be further U.S. fiscal stimulus
measures to aid the virus-beaten economy.   
    Spot gold        rose 1.1% to $1,906.63 per ounce by 1232
GMT, having ended September 4.3% lower, in its biggest monthly
drop since November 2016.
    U.S. gold futures        rose 0.7% to $1,909.20 per ounce.
    On Wednesday, U.S. Treasury Secretary Steven Mnuchin said
talks with House Speaker Nancy Pelosi "made a lot of progress"
on the long-awaited COVID-19 relief legislation.             
            
    StoneX analyst Rhona O'Connell said uncertainty over the
outcome of the U.S. Presidential election remained a supportive
factor longer term, but negotiations over stimulus between
Pelosi and Mnuchin were likely to influence trade more in the
short term.
    Regardless of the election outcome, "there will still likely
be wrangling over fiscal stimulus to try and maintain financial
stability ... I think there will be decently sized stimulus
anyway, but the political nuances will stay," she said. 
    The dollar dropped to a one-week low versus rival
currencies, boosting gold's appeal to other currency holders.
       
    "There's nowhere to put your money that you will get a
decent yield on. The money that's sloshing (from the stimulus)
around in the system will find its way into gold," David Govett,
CEO of Govett Precious Metals and a former trader said.
    "I think it's going to get worse before it gets better and
because of that gold is going to benefit and move back to
$2,000."  
    Investors await a non-farm payrolls report on Friday, after
U.S. weekly initial jobless claims data on Thursday showed
claims totalled 837,000 in the week ended Sept. 26, below a
Reuters forecast of 850,000.               
    Among other precious metals, silver        rose 2.5% to
$23.80 per ounce.. Platinum        hit a more than one-week high
 of $908.50 per ounce and was last up 1.7% to $902.93, while
palladium        gained 1.3% to $2,335.34.

 (Reporting by Nakul Iyer and Eileen Soreng in Bengaluru;
editing by Barbara Lewis)
  
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