Gold Price Jumps Near 4-month Peak As Stocks Wobble

London (Mar 27)  Gold prices rallied Monday as stocks showed signs of collapsing under the weight of worries about the Trump Administration's ability to pass tax reforms.

Gold for May was up USD10 at USD1261 an ounce, near its highest since November. Dow Jones Industrial Average futures slid 128 points, or 0.6%, to 20,447, with analysts saying a 10% dip from record highs is likely.

Investors are nervous about gridlock in Washington, DC as well as geopolitical tensions and the outlook for US interest rates.

Last week, Republicans unexpectedly pulled their bill to overhaul the US healthcare system amid indications of a lack of support.

Chicago Fed President Charles Evans is due to give a speech on the economy in Madrid, Spain at 1:15 p.m. Eastern Time.

Source: AllianceNews