Can a covid vaccine kill silver and gold?

Believe it or not, the big deal for precious metals this week was not the U.S. Election. It was news that Pfizer and BioNTech’s COVID-19 vaccine was over 90% effective in preventing the virus, and would likely be among the first to receive FDA authorization.

Monday was massively risk-on, with the Dow soaring 4% to a new record high, ten-year treasuries yields shot up almost 17% in a single day as investors dumped bonds, and oil was ahead 8%.

Meanwhile, the U.S. dollar index gained about 60 basis points or 0.65%, while higher-beta currencies jumped.

Gold and silver both sold off quite strongly and stayed near their lower price levels.Naturally, some gold and silver enthusiasts are asking themselves if a vaccine is enough to kill the Covid-19 virus, as well as the precious metals bull market.And based on the initial reaction of these metals, it’s a natural question.So let’s look at the […]

Click here to view original web page at www.kitco.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.