Gold futures crept up 0.03% to $1,789.20 by 11:01 PM ET (4:01 AM GMT). The dollar, which typically moves inversely to gold, crawled up on Wednesday.
U.S. Treasury yields increased more on Tuesday behind investors concentrated on favorable economic conditions and dismissed inflation. An auction of 20-year bonds went better than expected.
On Wednesday, shares essentially were up in Asia but cooled a recent global rally.
The omicron variant resumes to spread in Europe, the U.S., and Asia, and some countries are re-imposing more stringent measures. U.K. Prime Minister Boris Johnson encouraged people to be careful but not impose tighter restrictions ahead of the holidays. France will restrict the New Year’s Eve celebrations while Germany will restrict gatherings to 10 people.
Urgency to Vaccinate
Across the Atlantic, U.S. President Joe Biden encouraged Americans to get vaccinated before Christmas.
The U.S. Food and Drug Administration is also probable to allow coronavirus treatment pills from Pfizer Inc. (NYSE: PFE) and Merck & Co . Inc. (NYSE: MRK) as early as this week, as stated by Bloomberg.
In the Asia Pacific, the Bank of Japan discharged the minutes from its latest meeting earlier in the day.
Silver dragged down 0.1% in other precious metals, platinum was below 0.3%, and palladium bounded up 0.2%.