XAUUSD GOLD Forecast and Technical Analysis
Safe Haven and U.S. Tax Reform
Gold prices added to gains from Wednesday’s session after the dollar fell on reports that Senate Republicans on Thursday will propose delaying a cut in the corporate tax rate from 35% to 20% until 2019.
The news of a possible delay to corporate tax cuts halted recent risk-on sentiment, fueling a flight-to-safety as traders appeared to unwind their bullish bets on riskier assets which followed on expectations that President Trump’s tax-reform plans would be enacted before year-end
Gold dipped in Asia on Friday but remained well supported on Middle East tensions between Iran and Saudi Arabia and await a summit in Vietnam among Asia-Pacific nations.
Dollar Index has from 94.80 to 94.37 almost 40 pips. But remained above MA 100.