Dubai – (Massader News)
Gold prices fell on Thursday after US President Donald Trump announced a tax reform plan and the price of metal futures fell by 0.2% to $ 1284.7 an ounce, according to a report by Mubasher.
The spot price of precious metal settled at $ 1282.5 an ounce, while futures for silver fell by 0.3% to $ 16.77.
US President Donald Trump announced on Wednesday a tax reform plan aimed at doubling the standard tax deduction for married couples at an annual income level of $ 24,000 and for people at $ 12,000, eliminating their taxes.
Gold prices were affected by announcements that raised the price of the US currency against major currencies, according to Mubasher.
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