Gold has fallen as a result of the strengthening of the dollar by Investing.com
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Author: Gina Lee
Investing.com – Gold fell on Monday morning as the Asian Fed earlier announced an interest rate hike, while fears of the spread of the Omicron COVID-19 variant continue.
It fell 0.18% to $ 1,801.65 for 23:26 ET (4:26 GMT).
, which is typically moving in the opposite direction to gold, rose on Monday after Fed Governor Chris Waller said on Friday that the central bank would end its bond purchases in March 2022 and raise interest rates “soon”.
The fast 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 doubles in 1.5 to 3 days in areas with local infections, but the severity of the variant is unclear.
U.S. health officials are urged to take booster shots and wear masks.
Many European countries may increase Omicron cases before the Christmas and New Year holidays.
The UK has warned that it could impose new restrictions before Christmas, as the country detected 12,000 cases on Sunday. The Netherlands entered the blockade over the weekend.
Among other precious metals, silver rose by 0.1%, palladium by 1.8% and platinum by 0.2%.
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