WASHINGTON (dpa-AFX) - Gold prices eased on Monday as equities bounced back amid easing Omicron concerns and expectations that China will step up policy-easing measures to support growth amid economic headwinds.
Spot gold slid 0.2 percent to $1,780 an ounce in European trade after climbing 0.8 percent on Friday. U.S. gold futures were down 0.2 percent at $1,780.45.
Early indications of the severity of the Omicron Covid-19 variant are 'a bit encouraging,' top U.S. pandemic advisor Anthony Fauci said Sunday, adding that it was too early to draw definitive conclusions and more information was still needed.
South Africa reported that Omicron is not leading to higher hospitalization rates despite a jump in active cases.
Elsewhere, Chinese authorities said that its recent policy moves were not intended to crack down on specific industry or private firms and did not necessarily target overseas listings of companies.
The China Securities Regulatory Commission said that its recent regulations were aimed to protect the interests and data security of small- and medium-sized firms, as well as personal information security.
Chinese Premier Li Keqiang said last week that Beijing would continue to implement a prudent monetary policy and would reduce the reserve requirement ratio as required.
The Chinese authorities would increase support for the real economy, especially for small and medium-sized companies, to support its operations in a stable way, he added.
Meanwhile, a mixed U.S. jobs report released last week did little to shake market expectations of a more aggressive tightening by the Federal Reserve.
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