Gold prices rose more than 1% on Monday, helped by a weaker dollar and safe-haven demand after Moody's downgraded the U.S. government's credit rating amid lingering trade concerns. Spot gold gained 1.

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,