Gold Price Analysis: XAU/USD nurse biggest losses in three months around $1,850

Gold stays depressed near the lowest in six weeks.

US dollar recovery, Wall Street gains shifted funds off the bullion.

Vaccine hopes from Pfizer/BioNTech magnified early Monday’s market optimism, led by US election results.

Gold prices lick their wounds around $1,956, near the lowest since September 28, during the early Asian session on Tuesday. The yellow metal posted the heaviest declines since August 11, while refreshing the multi-day low, after the news concerning the coronavirus (COVID-19) propelled market sentiment and extended the US dollar strength. Vaccine hopes bolster market optimism… With a 90% effective rate, the covid vaccine from Pfizer-BioNTech offers the biggest success in finding the cure for the deadly virus. Global markets cheer the welcome development while magnifying the initial optimism backed by Joe Biden’s victory in the US elections.The mood enthused DJI30 and S&P 500 Futures to refresh the record highs whereas the […]

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