Gold steady as traders watch Trump agenda
Metal is hardly changed at $1,253.66 as investors look to see if Donald Trump will be able to enact promised tax cuts and infrastructure spending
Bengaluru — Gold prices held steady on Tuesday as investors looked to see if US President Donald Trump would be able to enact promised tax cuts and infrastructure spending, with the dollar drifting from multimonth lows in the previous session. Spot gold was mostly unchanged at $1,253.66/oz at 2.38am GMT, after touching its highest in a month at $1,261.03 the day before. US gold futures inched down 0.2% to $1,253.7. "The markets are now starting to settle down as concerns around the implications of the failed [US] healthcare bill seem to have somewhat abated," said ANZ analyst Daniel Hynes. "We’re likely to see gold prices relatively steady for now until there is a little bit more clarity on Trump’s other policies, particularly over the tax bill." The dollar index was up 0.1% at 99.215. Asian stocks pulled ahead on Tuesday after Wall Street steadied and the dollar bounced from a four-month low. Trump suffered a major reversal when Republican leaders pulled legislation to overhaul the...
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