Gold rose, the dollar weakened due to recovery due to holiday risk from Investing.com

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Written by Gina Lee

Investing.com – Gold rose on Friday morning in Asia, and the dollar weakened as Santa gave a “risky” set on the eve of the holidays.

increased 0.01% to $ 1,810.10 by 10:15 PM ET (3:15 GMT), remaining above the $ 1,800 limit. , which normally runs the opposite of gold, fell on Friday.

Withdrawing fears of the impact of the omicron variant COVID-19 on economic recovery has fueled risk appetites by investors, limiting gains for the yellow metal.

The US Food and Drug Administration has granted emergency approval for Molnupiravir, Merck & Co . Inch. (NYSE 🙂 pill against COVID-19, Thursday.

One British study also showed that omicron infections were less likely to lead to hospitalization, but added that this variant could still cause a significant number of serious cases due to its contagiousness.

In the Asia-Pacific region, however, a laboratory study showed that two doses and a vaccine dispenser of Sinovac Biotech Ltd. did not produce sufficient levels of neutralizing antibodies to protect against omicron.

China also locked Xi’an on Thursday to curb the latest COVID-19 epidemic in the western city. With 13 million city residents told to stay in their homes and designate one person to go out every other day for supplies, this is the biggest quarantine since the pandemic began in early 2020.

Elsewhere in the region, data released earlier in the day showed Japan grew 0.5% year-on-year in November. The government has also approved for the year beginning in April 2022. For the year ending March 2023, Japan plans total spending of 107.6 trillion yen ($ 941.26 billion), an increase of 0.9% from the initial budget for the current year, according to the Ministry of Finance.

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