Business
Gold Hits One-Week High as Dollar Weakens and U.S. Tax Talks Fuel Uncertainty
Investors Flee to Safe Haven Assets as U.S. Congress Debates Sweeping Tax Reform
Watan-Gold climbed to its highest level in a week on Wednesday, as the U.S. dollar weakened and investors sought safe-haven assets amid growing financial uncertainty in the United States, where Congress is debating a sweeping tax reform bill.
Spot gold rose by 0.2% to $3,293.98 per ounce, after reaching its highest level since May 12 earlier in the session. U.S. gold futures also rose by 0.3%, reaching $3,295.80.
The dollar slipped to its lowest level since May 8, making dollar-priced gold more affordable for holders of other currencies.
