Gold surges amid spread of new COVID strain

Gold rises in price amid concerns over a new strain of COVID-19, Report informs referring to the auction data.

As of 9:00 a.m. (GMT+4), the price of December gold futures on the Comex New York stock exchange grew 0.36%, or $6.35, to $1,794.45 per troy ounce.

A moderate rise in gold prices is driven by demand for a ‘safe haven’ amid fears of the spread of omicron, the new strain of coronavirus.