Gold prices were nearly unchanged early on Wednesday as the dollar held steady on expectations of a US tax overhaul.
Spot gold was steady at $1,261.79 an ounce at 0051 GMT. US gold futures were little changed at $1,264.80 an ounce, reports Reuters.
The dollar was supported on Wednesday after the House of Representatives approved the biggest US tax overhaul in 30 years on Tuesday.
Asian shares fell on Wednesday, taking their cues from Wall Street with investor enthusiasm toward US tax changes ebbing as the long-awaited reform bill wound its way through Congress.
The US tax overhaul will give the economy a bit of a lift next year, but will have little lasting impact, according to a brief analysis from the Federal Reserve Bank of San Francisco.
European Central Bank policymakers are beginning to think of how to support the euro zone economy after their 2.55 trillion euro quantitative easing (QE) scheme comes to an end and as strong growth reduces the need for aggressive stimulus.
