Gold shows moderate growth dynamics
Technically, a side range was formed in the bank metal market. Recent drawdors did not change the market situation. The goal in the event of a growth area of resistance is 1792 dollars per ounce. The restraining level against the decline of gold is the area of 17,770 dollars per ounce. Meanwhile, the US stock market has completed Monday’s bidding on the background of negative dynamics from the oil and gas sectors, consumer services and technologies. At the time of closing on the New York Stock Exchange Dow Jones fell by 0.89%, the S & P 500 index fell in price 0.91%. On gold, such sales did not affect – the long positions hold the bank metal from the decline.
Medical data from all over the world still suggest that Omicron strain COVID-19 is less dangerous than delta, even if it is more transmitted.
According to the media, the data of the South African National Institute of Infectious Diseases have shown that the likelihood that this strain will cause serious illnesses, twice as well, and that even those who fall into the hospital with such a diagnosis are less time than sacrifices of previous pandemic waves. To date, only 3% of patients with Omicron died in South Africa, whereas in previous waves, mortality was 20%. This, in turn, weakened the excitement of investors, that the growth of the global economy will slow down due to the new variety of coronavirus.