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The market is still on guard at the opening of the week due to the corona mutant believed to be resistant to existing vaccines.
Gold rose in Monday morning trading in Asia, with concerns about the impact of the vaccine-resistant COVID-19 omicron variant giving the safe-haven yellow metal a boost.
Gold futures were also up 0.39% at $1,795.05.
The US light NYMEX crude jumped during those moments by about 4 dollars per barrel, reaching levels near 72 dollars, an increase of about 6%.
While the benchmark Brent crude rose in the range of 5% to reach levels above $75, with an increase of nearly $4 per barrel as well.
The World Health Organization (WHO) said late on Friday that early evidence suggests the Omicron variant, first identified in South Africa, could pose an increased risk of reinfection and said that some of the mutations detected on the variant were concerning.
“This variant has a large number of mutations and some of these mutations have some worrying characteristics,” Maria Van Kerkhove, WHO’s technical lead for Covid-19, said in a statement on Friday.
