Gold hovers near lowest levels amid growing pressure

Gold prices wavered on Wednesday near a two-week low after U.S. treasury secretary confirmed the huge corporate tax cuts plans. 

Haven demand waned since the win of centrist Emanuel Macron in the first round of French elections, soothing the markets and demolishing the chances of far right candidate Marine Le Pen. 

On the other hand, U.S. treasury secretary said today said corporate taxes could fall from 35% to 15%, while allowing multi national corporations to bring back their profits to the U.S. and pay just 10% om taxes instead of the current 35%. 

That buoyed the dollar today and heaped pressure on the yellow metal, but conditions remain favorable for the safe haven amid geopolitical concerns in the Korean peninsula. 

Gold last traded at $1,262.76 an ounce, compared to the opening of $1,261.76, with a session-high at $1,266.34, and a low at $1,261.17.