Friday, 15 December 2017

Gold Inches Up As Dollar Slips On Tax Bill Worries

Gold prices edged higher in Asian trade on Friday, heading for their first weekly gain in four, as the dollar sagged on concerns about the progress of U.S. tax reform. Spot gold was up nearly 0.2 percent at $1,254.74 an ounce as of 0349 GMT, and has gained 0.5 percent so far this week. U.S. gold futures were unchanged at $1,257 an ounce. The dollar was down 0.1 percent at 112.26 yen.

"The U.S. dollar is weakening a little and that's benefiting gold. President Donald Trump's efforts to win passage of a sweeping tax bill in the U.S. Congress hit potential obstacles on Thursday when two more Republican senators insisted on changes.

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