Gold prices rose to a three-week high on Wednesday as investors were reluctant to buy stocks in light of the dollar’s weakness and instead sought safe havens due to growing concerns over US President Donald Trump’s economic program.
By 06:44 GMT, gold surged 0.3 percent to $ 1247.56 an ounce after hitting a three-week high of $ 1248.47 an ounce earlier in the session.
Gold settled in US futures futures at $ 1246.30 an ounce.
Asian stocks are down as growing concerns about Trump’s economic growth program prompted investors to shy away from riskier assets.
Gold has risen nearly $ 50 since it fell on Wednesday, after a Federal Reserve statement on monetary policy showed less hawkish interest rates.