WASHINGTON (dpa-AFX) - Gold prices were a tad lower on Monday, after having hit a three-week high hit in the previous session on fears over the rapidly spreading Omicron coronavirus variant.
Spot gold was little changed at $1,797.62 per ounce in European trade, while U.S. gold futures were down 0.4 percent at $1,798.10.
While tumbling equities offered some support, the dollar's rise dented the metal's safe-haven appeal.
The U.S. dollar hovered near the highest since July of last year against major peers after a Federal Reserve official signaled a first pandemic-era interest rate hike could come as early as March.
The possibility of more Covid-19 restrictions being imposed ahead of the Christmas and New Year holidays loomed over several European countries ahead of the Christmas and New Year's holidays.
In the United States, New York State broke a record for new infections for a third straight day.
An effective shutdown of the U.S. is probably unnecessary, though hospitals will be tested by the expected rush of Omicron cases, Anthony Fauci, who leads the National Institute of Allergy and Infectious Diseases, said.
President Biden is expected to speak Tuesday on the status of the fight against Covid-19 and discuss government help for communities that need it.
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