Dec 2 (Reuters) – Gold prices eased on Thursday hurt by a firmer dollar, as investors assessed how central banks are likely to respond to surging inflation and concerns over economic growth spurred by the new Omicron coronavirus variant.
FUNDAMENTALS
* Spot gold XAU= fell 0.1% to $1,780.36 per ounce by 0050 GMT. U.S. gold futures GCv1 dropped 0.1% to $1,782.50.
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* The dollar index held firm and rebounded 0.4% from the previous session’s low, increasing gold’s cost to buyers holding other currencies.
* The U.S. central bank needs to be ready to respond to the possibility that inflation may not recede in the second half of next year as most forecasters currently expect, Federal Reserve Chair Jerome Powell said on Wednesday. read more
* The latest COVID-19 variant could extend some of the supply-chain challenges and shortages that have led to higher inflation, and officials will…
