Gold is highly sensitive to rising rates, which lift the opportunity cost of holding assets that do not earn interest and also strengthen the dollar. Photo: AFPBengaluru: Gold rose over 1% to touch a one-month high on Monday as the dollar slid after President Donald Trump’s failure to pass health care reform raised doubts over his ability to push through his economic agenda. Spot gold rose 1% to $1,256.20 per ounce by 9.31am, after hitting $1,257.97, its highest since 28 February. The dollar slid to a near two-month low against a basket of currencies on Monday, dropping to its worst since 2 February. Spot silver rose 0.6 percent to $17.85 an ounce, after hitting a near 3-week high of $17.88.

Source: Mint March 27, 2017 05:37 UTC