Gold gains on possible delays in U.S. tax cut plan

Reuters/Zandi Shabalala/11-08-17

Gold rose on Wednesday as the dollar eased on expectations of possible delays in long-awaited U.S. tax reforms but a looming U.S. interest rate increase in December kept a lid on gains.

…Senate Republican leaders are considering a one-year delay in implementing the centrepiece tax cut to comply with Senate rules, the Washington Post reported on Tuesday, citing sources.

…Societe Generale analyst Robin Bhar said the news of a potential delay could mean a moderation in interest rate increases next year which would boost the appeal for gold.

This entry was posted in Gold News, Gold Price, Gold Views. Bookmark the permalink.

Comments are closed.