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Gold at two-month low as dollar bounces on U.S. tax plan support

Reuters  |  NEW YORK/LONDON 

By Renita D. Young and Jan HarveyNEW YORK/LONDON (Reuters) - Gold dropped 1 percent to a two-month low on Tuesday as the dollar rose against a basket of currencies and U.S. stocks rebounded as investors assessed details of the U.S. tax overhaul legislation. The U.S. dollar gained for a second consecutive session and U.S. technology stocks bounced, both benefiting from optimism surrounding the U.S. tax plan. The House of Representatives on Monday voted to go to conference with the Senate on their differing versions of the tax legislation, setting up formal negotiations on the bill. Spot gold ...

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First Published: Wed, December 06 2017. 10:01 IST