Home Economy Gold ticks higher as Omicron virus variant woes boost appeal

Gold ticks higher as Omicron virus variant woes boost appeal

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Nov 29 (Reuters) – Gold prices edged higher on Monday, as concerns over the impact of the possibly vaccine-resistant Omicron coronavirus variant supported the precious metal’s safe-haven appeal.

FUNDAMENTALS

* Spot gold rose 0.1% to $1,793.72 per ounce by 0201 GMT. U.S. gold futures advanced 0.4% to $1,793.2.

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* The Omicron coronavirus variant spread around the world on Sunday, with new cases found in the Netherlands, Denmark and Australia even as more countries imposed travel restrictions to try to seal themselves off. read more

* The euro zone is better equipped to face the economic impact of a new wave of COVID-19 infections or the Omicron variant, European Central Bank President Christine Lagarde said. read more

* Atlanta U.S. Federal Reserve President Raphael Bostic said on Friday he is hopeful that the momentum of the U.S. economy will carry it through the next wave of the pandemic, and…

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