Jan 4 (Reuters) - Gold prices gained on Tuesday amid curbs to contain the spread of Omicron coronavirus cases, while a rise in U.S. Treasury yields supported by inflation fears kept safe-haven bullion"s gains in check. FUNDAMENTALS * Spot gold rose 0.3% to $1,806.20 per ounce by 0109 GMT, after slipping from a more than one-month high of $1,831.62 in the previous session. * U.S. gold futures were up 0.2% to $1,804.50. * The Omicron variant of the coronavirus appears to be far more contagious than previous iterations, but data suggests it may be less virulent than Delta, which swamped hospitals last year, leading various nations to take preventive measures. read more * A number of businesses, including several major U.S. banks, have encouraged staff to work from home during the first few weeks of the year. read more * The U.S. Food and Drug Administration on Monday authorized the use of a third dose of the Pfizer (PFE.N) and BioNTech COVID-19 vaccine for children ages 12 to 15, and narrowed the interval for booster shot eligibility to five months from six. read more * Benchmark 10-year Treasury yields rose to a more than one-month high in the previous session, with investors believing the Fed could raise rates in March soon after it completes tapering of its bond purchases. * Higher yields raise the opportunity cost of holding non-interest paying gold. * Money markets have fully priced in a first U.S. rate increase by May, and two more by the end of 2022. FEDWATCH * Spot silver rose 0.3% to $22.92 an ounce, platinum was up 0.3% to $957.49, and palladium gained 1% to $1,843.18.
مشاركة :