The price of gold is still rising with the support of the Trump tax project

Gold prices rose for the second day with the evaluation of investors from the effects of the tax bill returned by President Donald Trump, which is expected to lead to further expansion in the US budget deficit. The price of gold increased by 1.7%and has still reduced the losses that have incurred over the past two weeks, while US stock indicators have fallen slightly, and the dollar index has dropped near the lowest levels in three years. The US Senate has approved the draft law, combining a $ 4.5 billion tax reduction with $ 1.2 trillion. The US Senate approves of the Trump Tax Bill and refers to ‘Representatives’ and writes ‘Kumrets Bank’ analysts in a note: ‘The approval of the US government of this spending package means that the financial risks will lead the scene,’ which can increase the attraction of gold as a safe haven. Gold profits have partially dropped to the release of US work data that has grown stronger than expectations, reducing the possibilities of cash facilitation that usually supports gold, as it does not benefit. The Standard & Poor’s 500 index also fell to a wave of Ascension that led it to successive records. Golden profits since the beginning of the year and despite the recent decline, the price of gold has been by more than 25% high since the beginning of the year, and is currently trading at a level less than 160 dollars only from the highest historical level recorded in April, with the support of the increase in commercial and geopoly risks. The uncertainty about the long -term impact of Trump’s commercial and financial policy also led to a decrease in the dollar index during the first half of 2025 by about 11%, which recorded the worst annual performance since 1973, making gold cheaper for buyers in other currencies. The US Dollar Index scored the worst annual achievement since 1973, and an analyst at the Commonwealth Bank of Australia, Vivic Dahar, said in a research note: “Despite its recent losses, gold still enjoys the most momentum to achieve short -lived profits if the dollar continues to land.” The immediate gold price rose 1.2% to $ 3,342.65 per ounce at 12:40 p.m. New York. While the ‘Bloomberg Instant Dollars’ index has completed after falling 0.5% on Monday.