# Gold Rises Before the Holiday Season

Gold prices rose today, Thursday, in limited year-end trading as the dollar, considered a safe haven, weakened following encouraging results from a study on the Omicron variant of the coronavirus and increasing optimism regarding global economic prospects. Spot gold rose by 0.2% to $1806.12 an ounce by 0455 GMT, up nearly 0.5% since the start of the week, potentially marking a second consecutive weekly increase. U.S. gold futures increased by 0.3% to $1807.10. Early trading in Asia saw global stocks continue to rise while the dollar declined as fears regarding the impact of Omicron eased, and markets welcomed strong economic data from the United States. The dollar index hovered near its lowest level in a week against riskier currencies, making gold cheaper for holders of other currencies. Michael Langford, director at AirGuide Corporate Consulting, stated that limited trading and buying due to Christmas keep gold above the $1800 level. A study conducted in South Africa indicated that the risk of hospital admission or severe symptoms for those infected with the Omicron variant is lower compared to the Delta variant. For other precious metals, silver rose by 0.4% to $22.87 an ounce, platinum increased by 0.5% to $969.50, while palladium fell by 1.5% to $1854.02.