Bengaluru
Gold prices rose to a three-week high on Wednesday as risk-averse investors dumped equities amid a weaker dollar and sought safe havens on growing doubts about U.S. President Donald Trump´s economic agenda.
Spot gold had risen 0.3 percent to $1,247.56 per ounce by 0644 GMT, after touching a three-week peak of $1,248.47. U.S. gold futures were firm at $1,246.30. The dollar index , which measures the greenback against a basket of currencies, was at 99.761, near the six-week low of 99.642 reached on Tuesday.
Asian stocks fell on Wednesday as growing doubts about President Trump´s economic growth agenda prompted investors to dump risky assets. "It seems that equity investors decided to take some money off the table, perhaps getting slightly wary about the progress in President Trump’s legislative agenda," INTL FCStone analyst Edward Meir said.
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