Gold Price Rallies from $100 Vaccine Plunge, Nasdaq Slips Again as Bond Yields Reach March Highs

Gold Price Rallies from $100 Vaccine Plunge, Nasdaq Slips Again as Bond Yields Reach March Highs

GOLD PRICES regained almost a third of yesterday’s $100 plunge in Asian trade Tuesday before easing back to $1880 per ounce in London as global financial markets stabilized from the apparent shock of pharma-giant Pfizer announcing successful trials of a Covid-19 vaccine.

The EuroStoxx 600 index added 0.7% to Monday’s 4.0% jump, but New York’s S&P index of US stocks trimmed 0.3% off its 1.1% jump to last night’s new record high, while the tech-heavy Nasdaq – whose components include home-delivery giant Amazon (NASDAQ: AMZN), streaming TV channel Netflix (NASDAQ: NFLX) and teleworking conference app Zoom (NASDAQ: ZM) – followed yesterday’s 2.5% drop with another 1.6% fall.

Crude oil and industrial commodities continued to rise while government bond prices continued to drop as investors cut their holdings, pushing the yield offered by 10-year Treasury debt up to 0.96% per year – the highest since panic swept all financial markets in mid-March […]

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.

Posting Guidelines
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet