London — Gold prices rose on Wednesday as the dollar weakened and stock markets fell after a delayed US healthcare bill increased doubts about US President Donald Trump’s ability to pass economic stimulus measures. The dollar sank to its lowest since November as Japan’s yen strengthened and the euro hit a one-year high when European Central Bank (ECB) president Mario Draghi hinted that stimulus could be trimmed this year. A weaker dollar makes dollar-denominated bullion cheaper for holders of other currencies and can increase demand. Spot gold was up 0.5% at $1,252.81 an ounce at 10.53am GMT, while US gold futures were 0.5% higher at $1,253.60 an ounce. Gold prices have been held down in recent months as stock markets rose and hit record highs in the US and UK, offering better investment returns. But the risk of a deeper stock market correction means investors now want to keep their gold, said Ole Hansen, head of commodities strategy at Saxo Bank. "With the selling appetite fading, ...
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