WASHINGTON (dpa-AFX) - Gold futures rose Wednesday as dollar softened on the passage of major U.S. tax reform.
Congress approved the most sweeping tax reform since 1986, sending the bill to President Donald Trump, who is expected to approve before the holidays.
Feb. gold was up 0.4% at $1,269.60 an ounce, extending strong gains from the past few sessions. Gold remains well below its 2017 highs near $1360, but has steadied since hitting lows near $1230 a few weeks back.
Traders also considered upbeat U.S. housing data.
Existing-home sales surged for the third straight month in November and reached their strongest pace in almost 11 years, according to the National Association of Realtors. All major regions except for the West saw a significant hike in sales activity last month.
Copyright RTT News/dpa-AFX