The gold price crossed US$ 1800 per ounce. This rise in gold represents a 3 week high. The main reason for it seems the uncertainty created by the appearance of a new variant of the SARS CoV 2 virus, the Omicron variant.

In spite of the Omicron variant appearing to be less severe than the Delta variant, the fact that some countries are resolving to enact lockdowns is worrisome for the future of the economy. Gold prices react to uncertainty.

Graph from here

For further information read here.

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.