Buyers pushed gold to $ 1,815

Gold closed higher on Thursday, amid rising dollar and Wall Street rally that led the industrial Dow and the broader S&P 500 to new all-time highs amid concerns about the impact of the new pandemic wave – with Omicron to dominate the dynamics of economic recovery.

Gold started the session in negative territory, however, the fall of the 10-year US government bond held back the losses of the precious metal, to be followed by the “intervention” of investors who pushed gold to more comfortable levels above the $ 1,800 limit.

Naeem Aslam, AvaTrade analyst. said that the ability of gold to hold above $ 1,800, even at yesterday’s meeting when the 10-year reached above 1.55%, is an advantage for the precious metal.

“Under normal circumstances, rising bond yields are driving up the price of gold due to rising opportunity costs,” Aslam said, adding: $ 1,800 limit due to the weaker dollar, which is moving close to a month low “.

“Dollar gains are declining as investors prefer the more risky currencies because of the easing of concerns about the Omicron mutation.”

“From the meeting [της Ομοσπονδιακής Τράπεζας των ΗΠΑ για τη νομισματική της πολιτική] In the middle of the month, the yellow metal is moving strongly upwards, while the dollar has fallen from its recent highs. “Gold is likely to test the $ 1,820 mark again,” said David Madden, an analyst at Equiti Capital.

In this climate o gold delivery in February It added $ 8.30, or 0.5 percent, to $ 1,814.10 an ounce on Thursday.

As for the other metals, the March delivery silver gained 20.2 cents or 0.9% to $ 23.06 an ounce, while the March delivery copper fell 2 cents, or 0.5%, to $ 4.3925 a pound.

The April delivery contract for platinum lost $ 5.40 or 0.6% to $ 964.60 an ounce. Finally, the palladium delivery in March fell $ 3.80, or 0.2%, to $ 1,983.20 an ounce.