. . World News – UK – Gold Prices End Jan 1st. 8% less Monday, as the vaccination progress hits precious metals

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
GCZ20,
-1. 98%
GC00,
-1. 98%
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