Gold prices edged down on Thursday as global risk sentiment ebbed, but scepticism over US President Donald Trump’s tax reform plan curbed further losses. Spot gold was down 0.3% at $1,264.60 per ounce as of 7.36am GMT. Bullion prices edged away from a two-week low of 1,259.90 hit on Wednesday. US gold futures climbed 0.1% to $1,265.90 an ounce. "Gold is being pulled down by descending global risk sentiment... But the market is still worried about whether (US tax cut) policy would be carried out as the rate cut is too steep...," a trader with a Shanghai-based bullion bank said. President Donald Trump unveiled a one-page plan on Wednesday proposing deep US tax cuts, many for businesses, that would make the federal deficit balloon if enacted, drawing a cautious welcome from fiscal conservatives and financial markets. "I think they are trying to attract business to the US, which is good for the economy and stock market, and thus a negative impact towards the gold price," said Spencer Ca...
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