Gold Prices Near Highest Level in Six Weeks

Gold prices rose to a six-week high before giving up their gains and stabilizing on Monday after gold buying, boosted by higher infections of the mutated Omicron strain of the coronavirus, offset pressure from higher US Treasury yields.

There was little change in the price of gold in spot transactions, recording $ 1826.58 an ounce (an ounce) by 0313 GMT, after reaching its highest level since November 22 at $ 1831.49 earlier in the session. US gold futures were down 0.1% at $1,826.70.

As for other precious metals, silver fell 0.5% in spot transactions to $23.15 an ounce, and platinum rose 0.4 percent to $966.00.

Palladium rose 0.4 percent to $ 1899.81 an ounce.