Gold Rises With Trump’s Tax Bill Seen Widening US Deficits

Gold rose for a second day as investors weigh President Donald Trump’s tax bill, which is expected to further expand US deficits.

Bullion gained as much as 1.7%, further paring its losses in the past two weeks, while US stocks edged lower and the dollar was near three-year lows. The US Senate passed the bill that combines $4.5 trillion in tax cuts with $1.2 trillion in spending reductions.

The US government pushing through the spending bill means that “fiscal risks are likely to come to the fore,” analysts at Commerzbank AG said in a note, potentially benefitting gold’s haven asset ...