Gold futures settled higher on Wednesday on safe haven bets after first omicron variant case reported in Latin America. About 20 countries are reported to have imposed travel restrictions with the identification of new variant cases raising risk aversion in the market. Additionally, a softer dollar also supported the yellow metal to recoup most of the 0.5% loss suffered in the previous session.
Gold futures for December climbed by 0.4% to settled at $1,784.30 an ounce on the Comex division of the New York Mercantile. However, spot gold dipped by 0.7% to $ $1,773.21 per ounce.