Gold rose on Wednesday, following the dollar’s pullback, as investors took advantage of the fall in Tuesday’s session to buy bullion as a hedge against increased volatility in the market due to concerns about the impact of the Omicron variant of the coronavirus to the global economy.
Spot gold rose 0.4% to $ 1,780.05 an ounce, after falling as low as 0.9% on Tuesday following statements by US Federal Reserve Chairman Jerome Powell that the central bank will debate whether to end the purchases. bond ahead of schedule.
Concern over the Covid-19 variant is supporting the price of gold as new restrictions will slow the global economy, and a weaker dollar also boosts demand for the metal as a safe haven asset, said Phillip Streible, chief strategist at Market at Blue Line Futures. Gold futures in the United States rose 0.4% to $ 1,784.30.
Reference-www.eleconomista.com.mx