Gold followed a horizontal course with the renewed pandemic wave in China.

Gold was flat in Asian markets after falling on Wednesday as financial markets slumped amid concerns that the pandemic wave in China would spread to other parts of the world and strain supply chains.

Spot gold is trading at $1808 after falling 0.5 percent in the previous session. On the other hand, Gram gold finds buyers at 1088 TL in the markets.

As one of the dollar’s indicators rose, the precious metal failed to benefit from safe-haven pursuits on Wednesday. Gold is preparing to complete the year 2022 from a point close to where it started.

The market will be watching upcoming US jobs data on Thursday for more clues about the Fed’s possible path of rate hikes next year.