Gold higher

London

Gold prices rose to a two-week high on Tuesday as the dollar dipped to multi-month lows amid fading prospects of further rate hikes by the U.S. Federal Reserve this year and doubts whether President Donald Trump would be able to push through healthcare reforms.

The U.S. dollar sank to a 10-month low against a basket of major currencies on Tuesday, hobbled by uncertainty over the pace of the Fed´s policy tightening and setbacks to the passage of a U.S. healthcare bill.

"With the street repricing its U.S. interest rate outlook following soft data
and a dovish Yellen, and with President Donald Trump´s reflationary reforms seemingly lost in the legislative Bermuda Triangle of Congress, a weaker U.S. dollar should continue to support gold," said Jeffrey Halley, a senior market analyst at OANDA.