Gold rises 1% as virus jitters, lower yields lift demand – Reuters
- Date: 04-Dec-2021
- Source: Reuters
- Sector:Healthcare
- Country:Middle East
Gold rises 1% as virus jitters, lower yields lift demand – Reuters
Dec 3 (Reuters) - Gold prices rose nearly 1% on Friday as uncertainty sparked by the Omicron coronavirus variant and a dip in U.S. Treasury yields boosted the safe-haven metal's appeal.
Spot gold was up 0.9% at $1,785.29 per ounce by 03:12 p.m. ET (2012 GMT). U.S. gold futures settled 1.2% higher at $1,783.90.
"Gold is benefiting from a flight-to-safety as investor worries around a faster Federal Reserve taper and the COVID situation as both Delta and Omicron pose a risk to short-term growth outlook," Edward Moya, senior market analyst at brokerage OANDA.
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