Jordan – Gold rises before Christmas as the dollar declines

Jordan – Gold rises before Christmas as the dollar declines
Jordan – Gold rises before Christmas as the dollar declines
(MENAFN– Alghad Newspaper) DUBAI – Gold prices rose yesterday, in limited trading at the end of the year, with the decline of the dollar, which is a safe haven, after encouraging results from a study on the mutated Omicron of the Corona virus and increasing optimism about global economic prospects.
And gold rose in spot transactions 0.2% to $ 1806.12 an ounce, and it 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 its lowest level in a week against rival currencies that involve greater risks, which made 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 AirGuide.
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.

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