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Gold gains on possible delays in U.S. tax cut plan

Reuters  |  NEW YORK/LONDON 

By Renita D. Young and Zandi ShabalalaNEW YORK/LONDON (Reuters) - Gold rose on Wednesday, hovering near a three-week high as the dollar retreated on expectations of possible delays in long-awaited U.S. tax reforms, while palladium hit its highest since 2001.Spot gold was up 0.6 percent at $1,283.20 an ounce by 2:00 p.m. EST (1900 GMT). U.S. gold futures for December delivery settled up $7.90, or 0.6 percent, at $1,283.70 per ounce.U.S. House of Representatives Speaker Paul Ryan left the door open to a possible delay in implementing lower tax rates for corporations, following a media report ...

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First Published: Thu, November 09 2017. 01:15 IST