Bengaluru
Gold prices edged down on Thursday on ebbing geo-political worries but scepticism over U.S. President Donald Trump´s proposed tax reform curbed further losses.
Spot gold was down 0.2 percent at $1,266.94 per ounce, as of 0406 GMT. Bullion prices edged away from a two-week low of 1,259.90, hit during the session on Wednesday. U.S. gold futures climbed 0.3 percent to $1,268.30 an ounce.
"Gold is being pulled down by descending global risk sentiment. But the market is still worried about whether (U.S. tax cut) policy would be carried out, as the rate cut is too steep but there are not many fiscal supplies to compensate to this policy," a trader with a Shanghai-based bullion bank said.
President Donald Trump unveiled a one-page plan on Wednesday proposing deep U.S. tax cuts, many for businesses, that would make the federal deficit balloon if enacted, drawing a cautious welcome from fiscal conservatives and financial markets.
This initiative enables them to earn a dignified livelihood for their families
The event will host more than 700 booths, including leading global and Pakistani tech giants
Gold rates increased by $8 to all-time high rates of $2,371 per ounce in the international market
Strong retail sales prompted economists at Goldman Sachs to boost their gross domestic product
The IMF dictates its terms based on our past performance
Goldman's profit rose 28 percent to $4.13 billion, or $11.58 per share, in the first quarter
