Doha: Gold prices rose Monday, driven by a weaker dollar and a rush to safe-haven assets, after Moody's downgraded the United States' credit rating. Spot gold increased by 0.9 percent to USD 3,229.69 per ounce, and US gold futures saw a rise of 1.4 percent to USD 3,232.80.

According to Qatar News Agency, Moody's downgraded the United States' rating from "Aaa" to "Aa1" last Friday, citing "higher debt and interest rates than similarly rated countries." This downgrade contributed to the dollar index falling to its lowest level since May 8, which in turn affected Wall Street's main indices, causing them to decline.

In addition to gold, other precious metals experienced gains. Silver rose in spot transactions by 0.3 percent to USD 32.37 per ounce. Palladium increased by 1.1 percent, reaching USD 971.71, while platinum went up by 1 percent to USD 997.37.