Gold prices rose on Wednesday, helped by the dollar’s retreat and lingering fears that the variant of the Omicron coronavirus could jeopardize the global economic recovery.
Spot gold rose 0.5% to $ 1,797.60 an ounce. Gold futures in the United States added 0.5% to $ 1,798.20.
Although analysts downplayed the impact of omicron, more countries announced restrictions to reduce its spread, somewhat dampening the appetite for riskier assets.
There is some buying interest in the slight decline in US Treasury and dollar yields, said Jim Wyckoff, principal analyst at Kitco Metals, who attributed the rally to a “corrective rebound.”
Among other metals, spot silver gained 1% to $ 22.72 per ounce, platinum was up 3.9% to $ 970.52, and palladium was up 5.9% to $ 1,898.68.
Reference-www.eleconomista.com.mx