Gold steady as weaker dollar counters positive Omicron study impact

  • 12/23/2021
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study and increased optimism around the global economic outlook. FUNDAMENTALS * Spot gold was little changed at $1,806.85 per ounce by 0218 GMT. U.S. gold futures were up 0.3% at $1,808.20. * The metal was set for a second weekly gain at 0.5%. * A South African study suggested reduced risks of hospitalisation and severe disease in people infected with the Omicron variant versus the Delta one. read more * The United States on Wednesday authorised Pfizer Inc"s (PFE.N) antiviral COVID-19 pill for people aged 12 and older at risk of severe illness. read more * U.S. stock indexes closed broadly higher overnight after investors cheered positive economic data and the White House said it was resuming talks on a massive social spending and climate change bill with a holdout senator. * The dollar index (.DXY) hovered near a one-week low against riskier currencies and asset classes, making gold less expensive for holders of non-U.S. currencies. * Investors took stock of data showing U.S. economic growth slowed sharply in the third quarter amid a flare-up in COVID-19 infections, although activity has since picked up, putting the economy on track to record its best performance this year since 1984. read more * Spot silver was up 0.1% at $22.80 an ounce, platinum rose 0.3% to $968 and palladium fell 0.7% to $1,868.94. DATA/EVENTS (GMT) 1330 US Durable Goods Nov 1330 US Initial Jobless Claim Weekly 1500 US U Mich Sentiment Final Dec 1500 US New Home Sales-Units Nov n/a Japan BOJ Governor Haruhiko Kuroda at the Meeting of Councillors of Nippon Keidanren in Tokyo

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