Gold prices sink to 4-month lows amid optimism over US tax reform…
Gold prices sank to a four-month low in early dealings, as optimism towards U.S. lawmakers' making progress on tax legislation continued to grow while fears over a potential government shutdown receded. The yellow metal notched a minor gain of 0.1% on Wednesday, as investors continued to track progress made by U.S. lawmakers to pass a bill that will overhaul the American tax system. The U.S. Senate voted on Wednesday to go to a conference committee with the House to negotiate a plan to reform the tax system, amid early signs that lawmakers could bridge their differences and agree on a final bill ahead of a self-imposed Dec. 22 deadline. Some investors also believe the boost to the economy will prompt the Federal Reserve to raise interest rates at a faster pace.
Source : investing
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