Second consecutive profitable meeting for the golden mercy of Omicron

The gold futures closed the session with gains on Wednesday, for the second consecutive session, as the rapid and rapid spread of the Omicron variant rekindled the interest for safe investment shelters. Nevertheless, trading volume is limited as investors await the minutes from the last meeting of the US Federal Reserve.

Gold futures for February delivery were up 0.6% at $ 1,825.10 an ounce.

“Investors seem to be drawn to gold as Omicron’s growing contamination accelerates the flight to safety,” Lukman Otunuga, director of market analysis, told FXTM. The way gold will complete the first trading week of 2022, however, will be affected not only by the minutes of the Fed meeting, but also by key data on jobs in the US on Friday, he said. “If these reports boost expectations from the Federal Reserve raising interest rates three times this year, it could lead to gold losses.”