U.S. stocks closed their worst two-week slide since November with a selloff on Friday as disappointing China growth data sparked worries the global recovery was flagging.

Analysts say some anticipation of more Federal Reserve easing may be creeping back into the markets again and this, combined with gold’s ability to bounce from chart support at the recent lows, may enable the metal to rise over the next week.

“We could easily see last September’s record high being taken out, and a push on towards $2,000 is definitely on the cards before the year is out

After the elections, Congress will have to make some momentous decisions about taxes, spending and extending the nation’s borrowing limit. Missteps could be disastrous.

The price of gold now stands at marginally above $1600 in international markets. According to official inflation rates, the price for gold, instead, should be hovering at above $2500.

Accumulated deficits make up the national debt, which is currently north of $15 trillion.

“There’s going to be this feeling that the Fed’s minutes that said easing was off the table is not going to pan out,”

China’s romance with gold, though intense, still appears to be in the courting stage and there is a lot of room for growth in the demand for the metal

It briefly broke back above $1,630 an ounce as a drop in jobless claims pulled the dollar from its highs and stocks from their lows, but was unable to sustain the move.

Policymakers at the U.S. central bank believed that the gradually improving economy has lessened the need for more monetary easing,