Gold drops dramatically, as BioNTech and Pfizer announce vaccine trial results

Gold suffered this deepest single-day decline in the last seven years. Not since June 2013 has gold suffered a decline of this magnitude. The decline is a direct result of announcements made by two pharmaceutical companies, Pfizer and BioNTech which wrapped up stage III trials. The results showed that this vaccine had a 90% efficacy rate. The stage III trial administered the vaccine to 43,000 individuals, and the data concluded that the vaccine is 90% effective in preventing the coronavirus. Dr. Albert Bourla, Chairman and CEO of Pfizer said that “Today is a great day for science and humanity …The first set of results from our Phase 3 Covid-19 vaccine trial provides the initial evidence of our vaccine’s ability to prevent Covid-19.”

In a statement, he also said that the company is “reaching this critical milestone in our vaccine development program at a time when the world needs it most […]

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