(Bloomberg) -- Gold rose to the highest level since early July as investors braced for a stormy period in US-China relations with House Speaker Nancy Pelosi heading for Taiwan.

The precious metal often benefits from bouts of geopolitical turbulence, and the Pelosi trip only adds to tailwinds that have helped gold rebound from a 15-month low. A reversal in the dollar’s rally and growing fears about the global economy have also aided bullion prices.

Spot gold rose as much as 0.5% to $1,780.53 an ounce before trading at $1,776.68 by 10:30 a.m Shanghai time. Palladium rose 0.6%, while silver and platinum were little changed.

Pelosi is expected to arrive later Tuesday in Taiwan, which China views as its territory. She would be the most senior US politician to visit the island in a quarter of a century, and Beijing has warned of consequences including military action if the trip goes ahead.

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Author: Bloomberg News