Open Demo Account
Home / Market Update / Commodities / Gold Rises as Fears of Omicron Boost Its Allure

Gold Rises as Fears of Omicron Boost Its Allure

Adel 29 November, 2021 1:19 pm Commodities, Forex Market, Market Update

Gold prices rose on Monday after concerns about the impact of the potentially vaccine-resistant Omicron strain of coronavirus boosted gold’s safe-haven appeal.

Spot gold rose 0.1 percent to $1,793.72 an ounce.

US gold futures rose 0.4 percent to settle at $1,793.2.

Actual demand for gold in major Asian hubs increased last week, helped by lower prices, as traders in India prepared for a possible surge in buying with the increasing pace of the wedding season.

As for other precious metals, silver rose in spot transactions 1.1 percent to $23.38 an ounce.

Platinum rose 2.3 percent to $976.01 and palladium rose 2.7 percent to $1,794.69.

Tags

Check Also

Fed Under Pressure to Cut Rates in September as Job Market Cools

June’s jobs report sent a mixed message, with job gains have remained better than expected …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends