Gold prices fell, on Tuesday, with the dollar recovering some of its losses and the return of risk appetite as investors ignored the economic risks caused by the mutated Omicron.
Sharjah 24 – Reuters:
Gold prices fell, on Tuesday, with the dollar recovering some of its losses and the return of risk appetite as investors ignored the economic risks caused by the mutated Omicron.
And the price of gold in the spot contracts fell 0.2%, to $ 1786.50 an ounce at 1836 GMT.
And US gold futures fell 0.3% to $1,788.70 an ounce.
The dollar made up for some of the losses it incurred on Monday, while sentiment partially improved after global markets fell.
Gold is usually seen as a hedge against inflation and uncertainty, but raising interest rates would curb inflationary pressures and also reduce the attractiveness of non-yielding gold.
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