Gold rose to its highest level in a month after the GOP health bill failed.
Futures prices for gold rose on Monday. Furthermore, this built on a two-week advance and touched their highest level in a month.
This was due to investors seeking safety plays after big political setback for Republican-controlled Washington.
Analysts said the metal was benefiting from safe haven demand. Investors were spooked by Republican leaders failing Friday to repeal and replace Obamacare.
“Gold is benefiting from the GOP health-care reform failure. That failure has led to weakness in the U.S. dollar.” This according to Accendo Markets analysts Mike van Dulken and Henry Croft.