Concerns Over Omicron Variant, Inflation Has Increased Gold’s Safe-Haven Appeal

December 28, 2021 14:11:19

Last week, the price of gold rose above the $1,800 level as rising inflation drove investors to safe-haven assets and worries over the new coronavirus variant increased. U.S. gold futures rose by .4% to reach $1,804 while spot gold rose by .2% to sell at about $1,802 per ounce.

Equities also dropped, recoiling from a hawkish turn by international central banks focused on the economic risk that may be brought on by the increasing number of coronavirus cases and…

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