Ammon News - Gold prices rose on Wednesday to their highest in more than a week as the dollar weakened and investors sought safety amid U.S. fiscal uncertainty, with Congress debating a sweeping tax bill.

Spot gold was up 0.5% at $3,305.39 an ounce by 0408 GMT, after hitting its highest level since May 12 earlier in the session.

U.S. gold futures gained 0.7% to $3,307.30.

The dollar retreated to its lowest since May 7, making greenback-priced gold cheaper for holders of overseas currency.

Gold, traditionally considered a safe-haven asset during political and economic uncertainty, tends to thrive in a low-rate environment.

Spot Palladium fell 1.2% to $1,001.41, but hit its highest level since February 4, earlier in the session.

Silver fell 0.1% to $33.03 an ounce, platinum was down 0.7% at $1,046.70. Reuters