The price of gold rose to its highest level since November 2021 as the yields on U.S. treasury bonds fell and the U.S. dollar weakened. This rally in the price of gold was given added momentum by the increased volatility within equity markets. Throughout January 2022, the price of gold has largely remained above $1,800 per ounce. Despite the decision of numerous central banks to begin rolling back the stimulus measures instituted to cushion the harsh effects of COVID-19 on economies, gold remained strong on the market.
Concerns over the omicron variant coupled with the traditional view that gold has always been a hedge against inflation have all worked to keep the…
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