Gold prices rose today, Tuesday, after supporting concerns about the impact of the “Omicron” strain of the Corona virus, which may be resistant to vaccines.
Spot gold rose 0.42% to $1,792.18 an ounce, while US gold futures rose 0.43% to $1,792.90 an ounce.
The head of the “Moderna” pharmaceutical company told the “Financial Times” that it is unlikely that vaccines against the Corona virus will be effective against the new mutant “Omicron” to the same degree as it is effective against the previous mutant “Delta”.
Gold prices rose earlier this week due to the tendency of investors to invest in gold as one of the safe haven assets.
Despite this, prices fell ahead of the FOMC meeting, as investors waited for signs that the Federal Reserve would start reducing asset purchases, raising interest rates in the future, and then rising again as investors digested the FOMC results.