Gold jumps to its best level in 4 months
Gold is up 1.3%, or $16, at $1,260 per ounce on Monday morning as uncertainty surrounding the Republican agenda hits global markets.
On March 24, the Republican-led House of Representatives failed to pass its healthcare bill, causing some uneasiness about whether or not President Donald Trump's plans for cutting taxes, rolling back regulations, and spending massively on infrastructure will get done.
While that uncertainty is boosting gold, its putting pressure on stocks and the US dollar. Dow Jones industrial average futures are down 145 points and the US dollar is weaker by 1.06% against the Japanese yen and nearly 1% against the euro.
Gold has been making a comeback since its post-election slump. The precious metal tumbled 11% in the weeks following the election, bottoming out at about $1,128 on December 22. Buying over the past two months has run gold up to its highest level since November 10, two days after the election.
Markets Insider
Get the latest Gold price here.
- CEO says he tried to hire an AI researcher from Meta, and was told to 'come back to me when you have 10,000 H100 GPUs'
- We bought a house in Japan for $30,000. We'll have more land than we could afford in the US, and our kids will be more independent.
- Rumors Prince William is having an affair with Rose Hanbury are flooding social media again after Stephen Colbert waded into 'Katespiracy'
- COVID-19 vaccine can slash risk of post-infection heart failure by half, study finds
- Stock markets close higher in volatile trade ahead of key Fed policy meeting
- 10 Must do activities in Kodaikanal on your next trip
- Harnessing the benefits of weekly fasting: transforming your health inside out
- Citroen to supply 4,000 units of EV e-C3 to BluSmart Mobility in 12 months