Gold prices rose on Wednesday as the dollar and U.S. Treasury yields eased, with investor focus shifting to key inflation data due this week that could influence the Federal Reserve's decision to taper its stimulus at a faster pace.
Gold ETF and bullion prices held dead-flat for the week so far on Wednesday as increased tensions between Nato and Moscow over Ukraine were offset by drugs-maker Pfizer claiming that its Covid vaccine can provide strong protection against the Omicron variant
Gold rose on Wednesday, as softer bond yields and uncertainty about growth amid fears over the new Omicron variant of coronavirus lifted its appeal. Spot gold rose 0.5 per cent to $1,781.86 per ounce by 0551 GMT. US gold futures gained 0.3 per cent to $1,782.20. Also Read: Rupee surges 29 paise to 74.84 against US dollar in early trade
The ratio of gold to silver prices jumped to 2-month highs above 78 in London trade Tuesday as industrial commodities fell with world stock markets on a warning from Moderna that Omicron is highly infectious and likely to weaken the efficacy of vaccines – "all of them"