- Spot gold was little changed at $1,806.85 per ounce by 0218 GMT.
- U.S. gold futures were up 0.3% at $1,808.20.
Gold bars being counted in IstanbulYoray Liberman | Getty Images
Gold prices held steady in holiday-thinned trade on Thursday, as a weaker dollar offset renewed risk appetite fueled by an encouraging omicron study and increased optimism around the global economic outlook.
Spot gold was little changed at $1,806.85 per ounce by 0218 GMT. U.S. gold futures were up 0.3% at $1,808.20.
The metal was set for a second weekly gain at 0.5%.
A South African study suggested reduced risks of hospitalization and severe disease in people infected with the omicron variant versus the delta one.
The United States on Wednesday authorized Pfizer antiviral Covid-19 pill for people aged 12 and older at risk of severe illness.
U.S. stock indexes closed broadly higher overnight after investors cheered positive economic data and the White House said it was resuming talks on a massive social spending and climate change bill with a holdout senator.
The dollar index hovered near a one-week low against riskier currencies and asset classes, making gold less expensive for holders of non-U.S. currencies.
Investors took stock of data showing U.S. economic growth slowed sharply in the third quarter amid a flare-up in Covid-19 infections, although activity has since picked up, putting the economy on track to record its best performance this year since 1984.
Spot silver was up 0.1% at $22.80 an ounce, platinum rose 0.3% to $968 and palladium fell 0.7% to $1,868.94.
Source : CNBC