Gold ticks higher as nerves over U.S. tax bill hit dollar

Reuters/Eric Onstad/12-18-17

Gold edged higher on Monday as uncertainty over U.S. tax reform weighed on the dollar, while an analyst said bullion may face renewed headwinds early next year.

…”If the whole thing (tax reform) falls apart at the last minute, it would be hugely positive for gold, but I think that is unlikely,” said analyst Carsten Menke at Julius Baer in Zurich.

If the tax bill passes, gold might dip slightly, but that scenario is largely priced in the market, he added.

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