Metals Turmoil Cools After Wild Friday as Omicron Fears Ease
- Health experts suggest variant presents with mild symptoms
- U.S., Europe equity futures rise with oil after Friday selloff
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Gold fell and industrial materials rebounded after concerns over the omicron coronavirus strain eased, boosting risk appetite even as the World Health Organization urged caution.
Markets were roiled on Friday, with the Bloomberg Commodity Spot Index dropping the most since June, as the emergence of the new Covid-19 variant raised concerns that the global economic recovery would be derailed. But some calm returned on Monday after two South African health experts suggested the strain is presenting with mild symptoms so far.