CHICAGO, Nov. 26 — Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as investors become concerned over a new COVID-19 variant.
The most active gold contract for December delivery rose 1.2 U.S. dollars, or 0.07 percent, to close at 1,785.5 dollars per ounce.
The World Health Organization held an emergency meeting on Friday, declaring the B.1.1.529, also called Omicron variant, a variant of concern. The new variant first emerged in South Africa and has been detected in Botswana and among travelers in Hong Kong and Israel.
All three major U.S. stock indexes fell sharply, supporting gold.
Gold dropped 3.6 percent for the week.
Silver for December delivery fell 38.9 cents, or 1.66 percent, to close at 23.107 dollars per ounce. Platinum for January delivery fell 21 dollars, or 2.15 percent, to close at 954.3 dollars per ounce. (Xinhua)
Gold rises on concern over COVID-19 new variant
