Gold prices dip, stocks soar

Gold prices dip, stocks soar

Gold prices plunged as stocks soared based on news that US-based pharmaceutical company Pfizer had a 90% effective Covid-19 vaccine trial.

However, market risk factors will remain until a vaccine is officially available to the public.

The price of gold dropped more than US$100 an ounce on Monday to a three-month low of $1,849 an ounce, then slightly rebounded to close at $1,868, above the strong resistance line. Yesterday it rose to $1,880 an ounce.

In contrast, stock markets around the world rallied following news that could lead to a recovery for the global economy to pre-Covid levels.The SET index on Tuesday rose 4.31% to close at 1,341.24 points in trade worth 167 billion baht, making it the highest volume day of trade this year. The market was dominated by large-cap stocks, which included AOT (up 18.3%), KBANK (up 17.1%) and MINT (up 26.2%). Medical glove manufacturer STGT fell 21.7%.The progress of […]

About the author: StockMan
Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.
Posting Guidelines
Do
  • 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!

Comments

No comments yet