Bengaluru — Gold prices edged lower on Monday, pressured by firmer equities and a buoyant dollar after a bill to overhaul the tax system in the US moved a step closer to ratification. Spot gold was down about 0.1% at $1,254.40 an ounce at 3.46am GMT.US gold futures were little changed at $1,257.70 an ounce. The dollar held modest gains on Monday, having received a lift after top US Republicans said they expected Congress to pass a tax code overhaul this week. A Senate vote could come as early as Tuesday and President Donald Trump aims to sign the bill before the week is out."I think we have the last bearish news, which is the tax reform, and that is negative for gold so we expect gold to stay pretty depressed," said Richard Xu, a fund manager at China’s biggest gold exchange-traded fund, HuaAn Gold. The US tax bill, which would cut taxes for businesses and the rich while offering everyday Americans a mixed bag of changes, has helped drive the surge in equity markets this year.Asian ...
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