Gold prices today .. “yellow” is falling, as the “Omicron” shock subsides

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Gold prices fell on Monday, extending losses from last week, as the dollar rose and investors’ appetite for risk recovered.

As the market is estimating the economic impact of the novel coronavirus mutant Amicron.

Spot gold fell 0.50% to $1,782.90 an ounce by 1735 GMT after ending last week with a loss of 2.9%, its biggest weekly drop since June.

US gold futures fell 0.2% to $1,781.90 an ounce.

According to Reuters, a tinge of calm returned to global markets in the wake of the massive sales wave that witnessed last week, which was led by the discovery of the new mutant that prompted some countries to tighten restrictions on their borders.

Gold is also affected by the prospect of an increase in interest rates while markets are watching the time frame that the US Federal Reserve will pursue to tighten monetary policy.

Gold was also affected by the rise of the dollar, which makes the precious metal more expensive for holders of other currencies, and the rise in US Treasury yields.

Among other precious metals, silver fell 1.43% to $22.80 an ounce, while platinum rose 2.07% to $973.46.

Palladium jumped 2.68% to $1,794.60 an ounce.





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