Gold price plummets on news of successful Covid vaccine

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( Kitco News ) – Gold and silver futures prices are sharply down in early U.S. trading Monday, on the just announced news from Pfizer that it has developed a very promising Covid-19 vaccine. Stock markets soared on the news, including U.S. indexes hitting record highs, as risk appetite has up-ticked markedly the past hour. Gold prices had hit a nearly seven-week high of $1,966.10 in overnight trading. December gold futures were last down $39.90 at $1,911.70 and December Comex silver was last down $0.792 at $24.855 an ounce.

Pfizer within the past hour announced a Covid-19 vaccine trial of around 44,000 subjects that is 90% effective gave the stock markets a solid boost from earlier overnight gains. […]

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