Gold Prices Shine as U.S. Tax Bill Boosts Investor Confidence

Washington: Gold prices surged this week as renewed market optimism followed the approval of U.S. President Trump’s new tax bill, aimed at stimulating the economy. Spot gold closed at $3,328.36 per ounce, reflecting a 1.7% weekly gain, driven by investor confidence in the fiscal policy shift.

Despite the rally in spot prices, U.S. gold futures edged down by 0.1%, settling at $3,337.90 per ounce, indicating some short-term market caution.

Among other precious metals:

• Silver slipped 0.3% to $36.73 per ounce
• Platinum rose 0.8% to $1,378.30
• Palladium saw a modest uptick of 0.1%, reaching $1,137.94

Analysts say that the combination of fiscal stimulus and inflationary expectations has strengthened demand for safe-haven assets like gold, with further gains likely if economic momentum continues.