Gold futures fell sharply on Monday as investors undercut the metal’s demand for precious metals amid news of potential vaccines and treatments for COVID-19 that may be imminent. December gold
Billed $ 34. 60 or 1. 8% at 1. 837 USD. 80 an ounce. The decline marked the largest one-day decline for futures since a 5% decline in November. 9. The drop bar comes as drug makers make progress on a COVID-19 vaccine. Drug maker AstraZeneca said a study found the vaccine it is developing with Oxford University has 90% effectiveness in late-stage studies. Progress on vaccines has weighed on gold bars as it undermines the port’s attractiveness for gold and silver, according to traders.
U. . S.. . Stock indices are slightly higher on Monday afternoon, ushering in a week of shortened holidays as a steady flow of updates on advances in vaccination and treatment with coronavirus creates a potential palisade against COVID-19.
Mark DeCambre is MarketWatch’s Market Editor. He lives in New York. Follow him on Twitter @mdecambre.
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Gold, Vaccine, Stocks, AstraZeneca, Gold as an Investment
World News – UK – Gold Prices End Nov 1. 8% less Monday, as the vaccination progress hits precious metals
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