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

Moody’s cut the U.S. credit rating from Aaa to Aa1, citing years of growing budget deficits and little sign of restraint from lawmakers or successive presidential administrations. The downgrade comes at a time when Washington is debating fresh rounds of tax cuts with no clear funding,