Gold Climbs as Dollar Weakens and Deficit Doubts Mount
Gold prices rose above $3,305/oz, buoyed by a softening U.S. dollar and market jitters over the country’s ballooning deficit and political gridlock surrounding tax cuts.
Investors are turning to gold as a defensive play amid growing concerns about the U.S. fiscal trajectory.
The dollar’s retreat has made gold more appealing internationally, further supporting its price.
