Gold Holds Advance With Omicron, Monetary Policy Looming Large
- Dollar has three-day drop; U.S. consumer spending stalls
- Omicron variant may be less likely to lead to hospitalization
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Gold held an advance, tracking modest moves in the dollar as the path of Federal Reserve policy continues to dominate the outlook.
The Bloomberg Dollar Spot Index steadied on Thursday after its biggest three-day drop since the end of November, boosting bullion’s appeal. U.S. consumer spending stagnated, while durable goods rose by the most in six months, data showed on Thursday. Weekly jobless claims were little changed.