Gold Declines as Pfizer Plans to File for U.S. Vaccine Approval

Gold Declines as Pfizer Plans to File for U.S. Vaccine Approval

(Bloomberg) — Gold fell after Pfizer Inc. announced plans to file for an emergency authorization after a final analysis showed its shot had no significant safety issues. The U.S. drugmaker and partner BioNTech SE said their Covid-19 vaccine was 95% effective, paving the way for them to file for authorization in the U.S. “within days.” Bullion has carved out a trading range below $1,900 an ounce since Pfizer announced an initial readout on the vaccine’s effectiveness last Monday, blunting demand for the haven.

Even with effective vaccines in the pipeline, the U.S. faces an uphill battle to bring the pandemic under control. While states including California and Illinois have extended restrictions to combat rising case numbers, an aid package from Congress could take time. Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer on Tuesday asked Senate Majority Leader Mitch McConnell to resume talks for further fiscal stimulus, though McConnell […]

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