Gold price down $100 on vaccine news, but analysts don’t see change in inflation, uncertainty narrative

Gold price down $100 on vaccine news, but analysts don’t see change in inflation, uncertainty narrative

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! ( Kitco News ) – In what has been a wild morning, gold prices are down nearly $100 Monday but so far, holding critical support levels after Pfizer and BioNTech announced a potential vaccine for the COVID-19 virus.

However, some analysts are warning that the selling pressure appears to be overdone as there is plenty of uncertainty and liquidity in the marketplace to support the precious metal. December gold futures last traded at $1,855.60 an ounce, down 5% on the day.

Robin Bhar, an independent commodity analyst, said that while the latest headlines are negative for gold, there is still a lot of investors who don ’t know about the potential vaccine. He added that investors should wait for […]

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