Express
Trump Tax Reform Bill Sparks US Deficit Concerns, Dollar Remains Weak
Summary: Following the passage of President Trump's multi-trillion dollar tax bill in the US Senate, investors are concerned about the country's fiscal situation, leading to a rise in gold prices. Gold is holding steady around $3340 per ounce, up 2% in the past two trading days. The latest version of the presidential signature bill, expected to ...
Following the passage of President Trump's multi-trillion dollar tax bill in the US Senate, investors are concerned about the country's fiscal situation, leading to a rise in gold prices. Gold is holding steady around $3340 per ounce, up 2% in the past two trading days. The latest version of the presidential signature bill, expected to increase the deficit by $3.3 trillion over the next 10 years, is currently awaiting approval in the House of Representatives. If passed, this could benefit the attractiveness of gold as a safe haven, as investors reconsider their allocation to US assets due to concerns over Trump's disruptive trade and economic agenda. The continued weakness of the dollar, currently at its lowest level since 2022, is further supporting gold prices, offsetting the pressure from a report on Tuesday showing an increase in US job vacancies leading to a rise in US Treasury yields.
Tags:
Link: Trump Tax Reform Bill Sparks US Deficit Concerns, Dollar Remains Weak [Copy]
