Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Gold Down over Strengthening Dollar

Published 12/19/2021, 11:24 PM
Updated 12/19/2021, 11:29 PM
© Reuters.

© Reuters.

By Gina Lee

Investing.com – Gold was down on Monday morning in Asia as the Fed signaled an earlier interest rate hike, while fears over the Omicron COVID-19 variant spreading continues.

Gold futures edged down 0.18% to $1,801.65 by 11:26 PM ET (4:26 AM GMT).

The dollar, which normally moves inversely to gold, inched up on Monday after Fed Governor Chris Waller said on Friday the central bank is likely to raise interest rates “shortly after” the end of bond purchases in March 2022.

The rapid transmission of the Omicron variant is also on the radar of investors. The World Health Organization said on Saturday that the number of Omicron cases is doubling in 1.5 to 3 days in areas with local infections, but the severity of the variant remained unclear.

Americans are urged by U.S. health officials to take booster shots, wear masks.

Several European countries may tighten restrictions over surging Omicron cases ahead of Christmas and New Year holidays.

The U.K. is warning that it may impose new restrictions ahead of Christmas, as the country detected 12,000 cases on Sunday. The Netherlands has gone into lockdown over the weekend.

In other precious metals, silver was up 0.1%, palladium slid 1.8% and platinum was down 0.2%.

Latest comments

interesting
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.