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Gold Eyes Global Covid Scenario

Published on Nov 29, 2021 11:38

COMEX Gold edged up above $1800 per ounce on safe haven buying but failed to sustain. South Africa has detected a new COVID-19 variant with a large number of mutations. Concerns grow about the new variant which could be more infectious than Delta and more resistant to current vaccines. The variant has been termed as Omicron and was first reported to WHO from South Africa on 24 November 2021. More and more nations have reported this variant over the weekend and safe haven buying should support Gold after the metal ended around $1790 per ounce in last session.

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