Gold Rises on Weaker Dollar – 15 December, 2021

The Federal Reserves decision to end pandemic-era bond buying in March helped gold climb and the dollar weaken, with investors now awaiting other major central bank meetings. Spot gold was 0.3% higher at $1,781.60 per ounce, while U.S. gold futures were up 1% to $1,782 per ounce.

Oil prices were also up as U.S. implied consumer petroleum demand reached a record high despite the spread of the Omicron variant. Brent crude oil futures rose by 65 cents, or 0.9%, to $74.53 per barrel, while U.S. West Texas Intermediate crude futures increased by 74 cents, or 1%, to $71.61.