Gold Prices Decreased
Gold prices declined today to $1276.00 before falling to $1272.50. Gold was traded in a 20-dollar range on Friday, but finished trading at $1280.00 level. Gold prices are falling amid rising yields on US bonds after it became known that the US Senate approved a review of tax laws.
The US Senate approved the tax reform, which was one of the main campaign promises of President Donald Trump. This tax reform is the largest in the US over the past 30 years.
Amendments to the tax legislation provide, first of all, tax cuts for wealthy citizens and businesses. The remaining categories of the population will not receive significant benefits.