WorldFears related to the "Delta" variant drive up gold prices

Fears related to the “Delta” variant drive up gold prices


AA / Istanbul

Gold prices recorded a limited increase at the start of the session on Wednesday, supported by increased risks associated with the appearance of the Indian variant of the coronavirus “Delta” and the sharp drop in US bond yields. But the rise of the dollar still limits the gains.

As of 7:05 am GMT, gold in spot transactions rose about one dollar, or 0.05%, to trade at $ 1,811.3 an ounce.

And US gold futures rose $ 1.26, or 0.07%, to $ 1,811.5 an ounce.

Gold often whets the appetite of brokers, as a safe haven, with the rise in risks of other assets, in light of the steadily increasing number of infections with the Indian variant of the “delta” coronavirus in the world. world, and the drop in US bond yields to their lowest level in 5 months.

But, the rise of the dollar, considered as the main competitor of gold as a safe haven, slows the gains of the precious metal.

The dollar index, which measures the performance of the US currency against a basket of six major competing currencies, rose 0.21% to 93.17 points.

* Translated from Arabic by Wejden Jlassi

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