Gold pares early-week losses despite latest pullback from $1,883.93.
Covid recalls activity restrictions in US states, Fed Chair Powell warns about vaccine hopes.
Trade, political tensions also join the line to weigh the risks.
Aussie PM’s likely hint for vaccine, reopening can entertain Asian traders amid a light calendar. Gold extends the previous day’s corrective recovery while picking up the bids near $1,877 during the early Friday’s Asian session. In doing so, the yellow metal consolidates the biggest losses in three months, marked on Monday, amid fresh risks emanating from the coronavirus (COVID-19), trade and political frontiers. Vaccine hopes aren’t enough to restore economics… Although Pfizer, Moderna and Chinese pharmaceuticals are trying their best to find the cure to the deadly virus, Federal Reserve Chairman Jerome Powell’s hint to not be too optimistic about the cure’s economic impact cooled down the earlier positive market sentiment […]
November 13, 2020 (updated November 13, 2020) Published by StockMan