London — Gold rose on Wednesday as the dollar eased on the expectation of possible delays in long-awaited US tax reforms, but a looming US interest rate increase in December kept a lid on gains. Spot gold was up 0.4% at $1,280.5 an ounce as of 11.22am GMT. It fell about 0.5% on Tuesday. US gold futures for December delivery gained 0.4% to $1,281 an ounce. 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. This pulled the dollar index, which measures the greenback against a basket of six currencies, down 0.1% and towards the three-and-a-half-month lows touched in recent weeks. Société Générale 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. "The December rate hike is baked in but the market is looking more forward on interest rates into 2018. If t...
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