WASHINGTON (dpa-AFX) - Gold futures settled at a near two-week low on Monday, as the dollar climbed higher against other major currencies, and global equities moved up with optimism about growth outweighing concerns about the surge in coronavirus cases.
Higher bond yields and a firmer dollar weighed on the metal's safe-haven appeal amid bets that the Omicron variant of coronavirus won't inflict much damage on the global economy.
Deaths and hospitalizations from the Omicron variant are comparatively low, leading many governments to stop short of lockdowns.
The dollar index, which climbed to 96.33, pared some gains subsequently, and was up 0.27% at 96.22.
The yield on U.S. 10-year Treasury Note climbed to 1.629%.
Gold futures for February ended down by $28.50 or about 1.6% at $1,800.10 an ounce, the lowest settlement since December 21.
Silver futures for March ended lower by $0.542 at $22.810 an ounce, while Copper futures for March settled at $4.4215 per pound, down $0.0420 from the previous close.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News
