Gold Up, WHO warns Investing.com to consider Omicron “Lightweight”

Author: Gina Lee

Investing.com – Gold rose in Asia on Friday morning, but was close to a two-week low in the previous session. The fact that the Omicron COVID-19 variant cannot be considered “arun”, along with its stronger performance, boosted the active safe haven.

It rose 0.06% to $ 1,790.25 at 21:20 hours ET (02:20 GMT), but the yellow metal was set at its worst weekly drop since late November 2021. It rose to the strongest benchmark level since March 2021.

Although Omicron appears to cause fewer serious diseases than the strains of the virus, it should not be classified as “arun”, according to WHO Director-General Tedros Adhanom Ghebreyesus.

Even the humblest officials of the US Federal Reserve agree with the black central policy of the central bank. San Francisco Fed Chairman Mary Daly said at a rally on Thursday that the Fed’s balance sheet cut would come after the Fed funds rate normalized. St. James Bullard Fed Chairman Louis said at a special meeting that the Fed could raise its target interest rate as soon as March 2022.

According to the CME FedWatch tool, investors expect a higher than 70% chance of raising the minimum rate by 25 basis points at the March Fed meeting.

In terms of data, investors are now waiting for the U.S. jobs report, including what will be on the day later. Thursday’s figures showed a rise to 207,000 last week.

In Asia-Pacific, data released on the same day showed that household spending in Japan fell by 1.3% and 1.2% in November. It rose by 0.5% year-on-year in December.

Among other precious metals, silver was flat at $ 22.16 per ounce, while platinum rose 0.2% and palladium rose 0.1%.