Omicron concerns diminished risk appetite

Omicron concerns diminished risk appetite ...

Dec 22 - Gold prices hit a soaring rate on Wednesday, with a choppy dollar remained on the clock, rising the chance of a new fever, and an explosion of omicron coronavirus and rising risk appetite remained.

The shattered gold was last up 0.1% at $1,787.83 per ounce by 1203 GMT, while US gold will increase to $1,791.00.

You have conflicts of signals, said Peter Fertig, an analyst, Quantitative Commodity Research. The findings indicate that for gold, pressures from capital firms were being neutralised by support from strong stocks in the United Kingdom after a downbeat GDP data.

Official data on Wednesday showed Britain's economy increased more slowly than previously thought, the month of July-September period, nadging UK shares.

However, stock prices remained positive in the year-end, with Asia and Europe both improving despite the increasing COVID-induced losses.

Even though Omicron worries are plentiful, the lack of overly distressing symptoms relieves, which is why we are focusing on riskier asset management, said Stephen Innes, managing partner of SPI Asset Management.

After spending much of the session consistently or slightly higher, dollar dollars inched lower against its rivals, putting gold less expensive for buyers holding other currencies.

Benchmark US Treasury and German government bonds yields fell near recent highs, weighing on gold as the higher yields bring the economic power of stock-holding, which cannot pay no interest.

Although the economy is little and major players are out of control, the gold market will probably be choppy... Momentum is lack and prices most likely consolidated with the comfortable range", said analyst Avtar Sandu in a note.

Silver spread around 0.6 % on 22.63 dollars/ounce, platinum rose 0.5% on 939.21 dollars, and palladium rose 21% to 1 829.13 dollars.

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