Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Gold Down, Omicron Fears Start to Fall

CommoditiesDec 06, 2021 10:59PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Gina Lee

Investing.com – Gold was down on Tuesday morning in Asia, with a rebounding dollar and U.S. Treasury yields boxing the yellow metal in a tight $4 range.

Gold futures inched down 0.06% to $1,778.50 by 10:52 PM ET (3:52 AM GMT). The dollar edged down on Tuesday but remained above the $96 mark as fears over the new omicron COVID-19 variant slowly begin to recede.

Bank of England Deputy Governor Ben Broadbent said on Monday that inflation in the U.K. could "comfortably exceed" 5% in April 2022 and that a tight labor market risked becoming a more persistent source of inflation.

Investors have found it difficult to predict how central banks will adjust their monetary policies to curb high inflation. They now look to the following week, when the U.S. Federal Reserve, the European Central Bank, and the Bank of England will hand down their December policy decisions in the space of 24 hours.

In Asia Pacific, the Reserve Bank of Australia kept its interest rate steady at 0.10% as it handed down its policy decision earlier in the day. The Reserve Bank of India following a day later.

On the data front, Chinese data released earlier in the day showed that exports grew 22% year-on-year, and imports grew 31.7% year-on-year, in November. The trade balance was at $71.72 billion.

The Perth Mint said on Monday that sales of gold products in November jumped about 94% from the previous month to an eight-month peak. SPDR Gold Trust (P:GLD) said its holdings fell about 0.2% to 982.64 tons on Monday from 984.38 tons on Friday.

In other precious metals, silver edged down 0.2% and palladium was down 0.3%. Platinum was steady at $938.00.

Gold Down, Omicron Fears Start to Fall
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email