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29 Nov 2021

Gold up as Omicron Worries Continue

The Index Today

On Monday morning in Asia, Gold was up as concerns of the new coronavirus variant Omicron gave it a boost. Gold futures were went up by 0.39% to $1,795.05 by 11:27pm ET.

The omicron variant was detected in a number of countries such as the Netherlands and Denmark, leading to further travel restrictions to curb the spread. The World Health Organization has said more time is needed to assess the newly found strain of the virus. The president of the European Central Bank said that countries in the Eurozone are prepared and equipped to deal with another wave.

In other new, the U.S is hopeful that the economic recovery of the nation will continue its path despite another wave. Japanese retail sales saw a growth of 0.9% this year in October whereas Australia’s gross operating profits went up by 4%. In precious metals, platinum went up 2.3%, silver increased by 1.1% and palladium jumped 2.7%.

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