Gold prices rose on Friday as investors flocked to safe-haven assets, driven by market concerns over the financial repercussions of a new tax and spending cut bill passed by the US Congress.
Gold rose 0.4 percent in Asian trading to $3,340.79 per ounce, bringing the yellow metal's total gains since the beginning of the week to nearly 2 percent.
US gold futures also rose 0.3 percent to $3,351 per ounce.
This rise came after the US House of Representatives passed a tax and spending cut bill backed by President Donald Trump, a move that raised concerns about fiscal sustainability and social welfare programs.
As for other precious metals, silver was steady at $36.84 per ounce, while platinum rose 1.4 percent to $1,386.16, and palladium fell 0.5 percent to $1,141.97.
.jpg)
0 Comments