Gold prices are up this morning amid concerns about the impact of the new COVID-19 variant. This could lead to investors buying more gold.
Gold futures were up 0.39% to $1,795.05 per ounce.
Last week, new cases of the Omicron variant were detected in the Netherlands, Denmark, and Australia. If a new wave of COVID restrictions follows, it remains to be seen to what extent the eurozone will be able to cope economically.
President of the Federal Reserve (Fed) of Atlanta, said that the U.S. economy will continue to move beyond this variant and urge the Federal Reserve to taper its QE program.
Retail sales in Japan rose 0.9% year-on-year in October.
Within Australia, corporate gross operating profit rose 4% in the third quarter compared to the previous quarter.
Businesses in India are preparing for a rapid increase in sales during the wedding season.
Moreover, the previous decline in prices has also increased demand for gold in the main centers of Asia last week.
Other precious metals:
Silver was up 1.1% at $23.45 an ounce.
Platinum was up 2.3% at $973 per ounce.
Palladium was up 2.7% at $1,876 an ounce.
The Spot Market is Open
Monday, November 29, 2021