During the US morning trading session, gold prices rose to a monthly peak amid the depreciation of the US dollar and stock markets around the world after the failure of the bill on medical reform proposed by Donald Trump.
Investors are considering the current problems of the Trump administration related to the vote on replacing the ‘Obamacare’ as a signal that similar and even more complex situations can arise with other bills of the new administration's economic policy, such as corporate tax cuts, deregulation of the economy and increased spending on infrastructure projects.
Gold futures reached the peak of the session at $ 1259.20 per troy ounce - a level that was not observed since February 27. At 13:30 GMT, gold futures were at $ 1258.45, up $ 10.00 or approximately 0.8%.
Spot gold price rose $ 13.60 to $ 1258.40 per troy ounce.
The dollar was approaching the five-month low against a basket of other currencies after the failure of Donald Trump with healthcare reform. This forced investors to doubt its ability to implement policies that were supposed to lead to economic growth.
The US dollar index, which shows the purchasing power of the dollar against the trade-weighted basket of six major currencies, fell by almost 0.6% to 98.74, the lowest since November 11.
In early January, the dollar index rose to a maximum in 14 years amid due to the significant financial incentives expected under Trump's presidency.
The profitability of 10-year US government bonds fell to a minimum of four weeks at 2.357%.
At COMEX, May silver futures rose $ 0.279 (about 1.6%) to $ 18.02 per troy ounce, the highest since March 2.
Platinum added in price 1.5% to 985.75 dollars, and palladium fell 0.6% to 808.92 dollars per ounce.
Copper futures fell $ 0.05 or 1.9% to $ 2.581 per pound.