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 […]

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