Gold Slips Below $3,300 as Dollar Strengthens After Trump Budget Vote

Gold prices dipped below the $3,300 mark on Thursday, pressured by a firmer US Dollar following the House vote advancing President Trump’s budget and tax proposal. Spot gold was last seen trading at $3,295 per ounce, down 0.6%, as investors moved to the dollar for safety after the vote and amid ongo...

Gold prices dipped below the $3,300 mark on Thursday, pressured by a firmer US Dollar following the House vote advancing President Trump’s budget and tax proposal. Spot gold was last seen trading at $3,295 per ounce, down 0.6%, as investors moved to the dollar for safety after the vote and amid ongoing global uncertainties. The dollar’s rebound has made gold less attractive to international buyers, reversing some of the metal’s recent gains driven by safe-haven demand and geopolitical tensions. Analysts note that while gold had rallied to a two-week high earlier in the session, profit-taking and stronger greenback sentiment weighed on prices as the day progressed. Market watchers are keeping an eye on upcoming US economic data and further policy moves, with gold expected to remain volatile in the near term. Source: Reuters, Yahoo Finance, Fortune