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Precious Metals advanced with Treasury yields inching lower and the dollar paring gains, as investors weigh better-than-expected U.S. economic data and the implications of Covid-19’s omicron variant on the global recovery.

Precious Metals edged lower as investors continued to assess the implications of the rapidly spreading omicron coronavirus variant on the global recovery.

Gold scaled a one-month high on Tuesday as recent signs of rising inflation underpinned demand, although the metal gave up some early gains due to a firming U.S. dollar.

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

Bullion held near the highest close in a month amid muted activity across financial markets with U.S. exchanges closed and other bourses shutting early ahead of Christmas. Prices are still heading for the first annual loss in three years as central banks curb pandemic-era stimulus to fight surging inflation.

Gold neared the highest in a month as investors weighed uncertainty around the U.S. economic outlook and the outbreak of the omicron virus strain.

Gold held an advance as the dollar weakened, while silver got a boost from signs of an improving U.S. economy. Silver held gains after the final U.S. gross domestic product reading was revised higher, bolstering the outlook for metals exposed to industrial production.

Precious metal traders are unlikely to see a pick-up in volatility ahead of the Christmas slow down as short-term support and resistance levels remain in play.

Precious metal held a drop as investors weighed the efficacy of vaccines against the omicron virus variant and the outlook for President Joe Biden’s stymied economic agenda.

Gold held the first weekly gain since mid-November as investors weighed concerns over the spread of the omicron virus variant against tightening monetary policy.