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Gold is rising in price against the backdrop of the weakening dollar

Gold is rising in price against the backdrop of the weakening dollar

During today's session, gold prices had reached a four week high, rising to $1258 per ounce. This happened due to a fact that investors, worried about the U.S. dollar fate, converted their assets into the ""safe haven"". On Monday, the dollar has come close to the minimum indicators over the past 5 months. The index of the dollar against the weighted basket of 6 major currencies has fallen to 98,96 on the background of the reform failure of the health policy Obamacare bill promotion. The fact, that Donald Trump's plans haven't received support of the Congress, raises concerns about the success of his policy implementation aimed at the US economy growth. The vote on tax reform, after which the dollar's fate will become clearer, is about to come. Meanwhile, investors prefer to wait out the times of uncertainty, moving their assets into gold. So, in the near future experts expect a further rise of the precious metals’ prices.