Commodities
Gold prices down $100/ounce on COVID-19 vaccine
Gold futures traded at $1,890/ounce, losing over 3% in value after trading as high as $1966/ounce on Monday morning.
Gold futures traded at $1,890/ounce, losing over 3% in value after trading as high as $1966/ounce on Monday morning.
Published
4 months agoon
Gold prices have lost more than $100/ounce within 125 minutes, after trading as high as $1966/ounce at Monday morning trading session in London, based on the news that a phase 3 trial showing the COVID-19 vaccine developed by leading American pharmaceutical giants Pfizer and BioNTech was more than 90% effective – which weighed down on the precious metal momentarily.
At the time of writing this report, gold futures traded at $1,866/ounce, losing over 4% in value.
More details shortly…
Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.
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Vijay K
November 10, 2020 at 5:19 am
I am a newcomer to the world of gold. Was wondering why Gold prices fell after the Pfizer Covid-19 vaccine news came out?