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Washington: Gold prices rose on Monday, driven by a weaker dollar and a rush to safe-haven assets, after Moody's downgraded the United States' credit rating.
Spot gold rose 0.9 percent to USD 3,229.69 per ounce.
US gold futures rose 1.4 percent to USD 3,232.80.
Moody's downgraded the United States' rating from "Aaa" to "Aa1" last Friday, citing "higher debt and interest rates than similarly rated countries."
The dollar index fell to its lowest level since May 8, and Wall Street's main indices also declined.
As for other precious metals, silver rose in spot transactions by 0.3 percent to USD 32.37 per ounce, palladium rose by 1.1 percent to record $971.71, while platinum rose by 1 percent to $997.37.
