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Gold futures rebound at $7.80, Omicron boosts safe-haven buying.

Comex gold contract Delivered in Feb. It rose $7.80 to close at $1,784.30 an ounce.

Dr. Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization (WHO) said that now the virus COVID-19 The Omicron strain has spread in 23 countries around the world. And the WHO predicts that number will increase further.

Stefan Banzel, chief executive of Moderna, Inc., said current vaccines would be less effective at protecting against COVID-19. Omicron species with a warning that Pharmaceutical companies can take months to produce a new vaccine that will adequately protect against the omikron strain.

However, the positive range of gold prices was constrained by a jump in US Treasury yields. This increases the opportunity cost of holding gold. Because gold is an asset that does not return in the form of interest.

Investors will keep an eye on US non-farm payrolls on Friday. by analysts that The U.S. Department of Labor will report nonfarm payrolls up 581,000 in November. and the unemployment rate is expected to drop to 4.5%.

Earlier, the US Department of Labor said Non-farm payrolls rose 531,000 in October. That was higher than analyst expectations of 450,000 jobs from 312,000 in September. The unemployment rate fell to 4.6 percent, below analysts’ forecast of 4.7 percent from 4.8 percent in September.

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