Gold edges up as dollar slips on U.S. tax bill worries


Reuters/Apeksha Nair/12-15-17

Gold 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.

“The U.S. dollar is weakening a little and that’s benefiting gold,” said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.

…President Donald Trump’s efforts to win passage of a sweeping tax bill in the U.S. Congress hit potential obstacles when two more Republican senators insisted on changes, joining a list of lawmakers whose support is uncertain.

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