Gold prices sank but remained near a two-week peak on Thursday as traders assessed a U.S. tax bill passage.
February gold on Comex, slipped $1, or less than 0.1%, to $1,268.70 an ounce. Gold futures rose 10% for the year.
The dollar Index DXY dipped in early trade but had recovered 0.1% to 93.40. News that the Bank of Japan had kept its ultra-loose monetary policy buoyed the greenback against the yen, however, the dollar index remained in a narrow range. Gold, which is priced in dollars, is highly volatile to moves in its exchange rate.
Global financial markets broadly reacted calmly on the approval a day earlier of U.S. tax bill. The long-anticipated tax reform was mostly priced in.