Gold rises before Christmas as the dollar declines

Gold rises before Christmas as the dollar declines
Gold rises before Christmas as the dollar declines
Gold prices rose on Thursday in limited trading at the end of the year as the dollar, which is considered a safe haven, declined after encouraging results from a study on the mutant Omicron from the Corona virus and growing optimism about the global economic outlook.

And gold rose in spot transactions 0.2% to $ 1806.12 an ounce (an ounce) by 04:55 GMT, and increased about 0.5% since the beginning of the week, in what may become the second weekly increase in a row. US gold futures rose 0.3% to $1,807.10.

Early trade in Asia saw global stocks continue to rally, while the dollar eased as concerns over Omicron’s impact eased and markets welcomed strong US economic data.

The dollar index hovered near a one-week low against riskier rival currencies, making gold cheaper for holders of currencies other than the US currency.

“Limited trading and buying due to Christmas are keeping gold above the $1800 level,” said Michael Langford, director at corporate advisory Air Guide.

A study conducted in South Africa indicated that people with the Omicron strain had a lower risk of hospitalization or serious symptoms compared to the Delta strain.

As for other precious metals, silver rose 0.4%, to $22.87 an ounce, platinum rose 0.5%, to $969.50, and palladium fell 1.5 percent, to $1854.02.

These were the details of the news Gold rises before Christmas as the dollar declines for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV US warns firms over incognito North Koreans seeking tech jobs
NEXT German foreign minister visits Bucha, Irpin on surprise Ukraine trip

Author Information

I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]