Investors are worried about a surge in cases due to the Omicron coronavirus variant
Gold grain at a refinery in Russia. Picture: BLOOMBERG/ANDREY RUDAKOV
Spot gold was last up 0.1% at $1,791.73/oz at 4.57am GMT, while US gold futures fell 0.1% to $1,792.30. “Gold investors lack the stomach for any sort of losses still, as evident by recent rapid retreats on rallies above $1,800,” said Jeffrey Halley, a senior market analyst at Oanda. Asian stocks rose on Tuesday, shrugging off a bruising Wall Street session overnight, as Chinese markets cheered Beijing’s push to help troubled property firms, though surging cases of the Omicron variant persisted as a worry for investors.
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