Gold price down again on Moderna vaccine news but damage is limited - analysts

Gold price down again on Moderna vaccine news but damage is limited – analysts

Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) – The gold market is again seeing some selling pressure following more positive news on another potential vaccine for the COVID-19 virus. However, the damage in the precious metals market has been limited compared to last week’s massive selloff.

Monday morning, Moderna Inc said its experimental vaccine was 94.5% effective in preventing COVID-19 based on interim data from a late-stage clinical trial.

Moderna’s news follows on the heels of Pfizer’s and BioNTech’s surprise announcement last week that its vaccine was more than 90% effective in preventing COVID-19.

Although gold prices are under pressure following Moderna’s news, many analysts have said that this doesn’t change the marketplace’s current landscape."Positive news on the vaccine front but still in the early days. There […]

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