Gold prices nudged higher on Wednesday, as the dollar slipped following a media report that suggested a delay in the implementation of a major corporate tax cut under a crucial US tax reforms plan.
Spot gold was up 0.2 per cent at $1,277.94 per ounce as of 0426 GMT. It fell about 0.5 per cent on Tuesday.
US gold futures for December delivery gained 0.2 per cent to $1,278.40, reports Reuters.
The dollar index, which measures the greenback against a basket of six currencies, fell 0.1 per cent.
Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.14 per cent to 844.27 tonnes on Tuesday.
In other precious metals, silver rose 0.3 per cent to $17.01 an ounce. Platinum was up 0.1 per cent at $923.40 an ounce, while palladium gained 0.3 per cent to $995.50 per ounce.
