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Trump tax reform bill raises concerns about U.S. deficit and the dollar continues to weaken."

Online reported that after the U.S. Senate passed President Trump's trillion-dollar tax bill, investors were worried about the U.S. fiscal situation and gold kept rising. Gold remained near $3340 an ounce, after rising 2% in the previous two trading days. The latest version of the president's signature bill-expected to widen the deficit by $3.3 trillion over the next 10 years-is currently awaiting approval in the House. If passed, it could help gold's appeal as a safe haven, as investors are already rethinking their allocation of U.S. assets in response to Trump's disruptive trade and economic agenda. The continued weakness of the U.S. dollar-currently at its lowest level since 2022-continues to support gold prices, offsetting pressure from rising Treasury yields after a report on Tuesday showed an increase in U.S. job vacancies. (Jin Shi)

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