Gold prices rise to highest level in 1 week amid weak US dollar

Shristi Acharya, Published on May 21st, 2025

Gold prices rise to highest level in 1 week amid weak US dollar

Gold prices rose to their highest level in over a week in US on Wednesday. Prices rose due to weak dollar and safe-haven demand as President Donald Trump failed to convince Republican holdouts to back his tax bill. Spot gold was up 0.8% at $3,314.48/ounce at 1022 GMT. Experts believe that the country's fiscal concerns are weighing on the dollar.

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