Gold Pares Loss, Oil Holds Gains As Trump Administration Announces Its Tax Plan

Gold prices pared some losses in electronic trading Wednesday, while oil prices held onto their modest gains after the Trump administration unveiled its tax reform plan. June gold was at $1,265.20 an ounce in electronic trading. It fell $3, or 0.2%, to settle at $1,264.20, just as Treasury Secretary Steven Mnuchin started to unveil the plan. June West Texas Intermediate oil was up 20 cents, or 0.4%, to $49.76 a barrel on the New York Mercantile Exchange, little changed from its level minutes before the news.

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