Bengaluru — Gold rose more than 1% to touch a one-month high on Monday as the dollar slid after President Donald Trump’s failure to pass healthcare reform raised doubts over his ability to push through his economic agenda. Spot gold rose 1% to $1,256.20/oz by 4.01am GMT, after hitting $1,257.97, its highest since February 28. US gold futures were up 0.6% at $1,256.30. Trump suffered a stunning setback on Friday as his own Republican party pulled legislation to overhaul the US healthcare system, a major election campaign promise of the president and his allies. The blow so early in Trump’s term unnerved financial markets, heightening the concern about the chances of economy-boosting steps being enacted, such as tax reforms and big spending packages. "Looks like some people are not happy with Trump’s failure over his promises and we see that currently there is a very bearish mood about the US dollar," said Jiang Shu, chief analyst at Shandong Gold Group. The dollar slid to a near two-...
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