Victor Foo News Today

(Bloomberg) -- Gold was steady as year-end optimism helped push U.S. stocks to a fresh record, with traders betting the global economic recovery can weather risks from the omicron virus variant and tightening monetary policy.

(Bloomberg) -- Gold edged higher as investors assessed the resilience of the global economic recovery, with Covid-19 cases hitting a pandemic record. More than 1.44 million infections worldwide on Monday smashed the previous high after factoring out a statistical blip in Turkey last year.

Gold edged higher as investors assessed the resilience of the global economic recovery with Covid-19 cases hitting a pandemic record. More than 1.44mn

Still, bullion is heading for its first annual loss in three years as central banks dial back pandemic-era stimulus to contain inflation.

Bullion is heading for its first annual loss in three years as central banks dial back pandemic-era stimulus to contain inflation.

Spot gold steadied at $1 770.44 an ounce by 11:33 a.m. in Singapore after dropping 0.9% Tuesday.