Gold prices climbed higher on Monday as a downward revision in U.S. credit rating by Moody's, and the dollar's weakness lifted the demand for the safe-haven yellow metal.
The Biden administration released statements Friday evening disagreeing with Moody's Investors Service changing the United States credit outlook to "negative."
Moody's Investors Service changed the outlook on the United States's credit rating from "stable" to "negative" but reaffirmed the country's AAA rating.