Gold Prices Try to Rally Again as Inflation Forecasts Hit 18-Month High, WFH Staff ‘Should Pay 5% Extra Tax’

GOLD PRICES tried but struggled once again on Thursday to recover from this week’s $100 plunge, made after US pharma-giant Pfizer declared successful trials of a Covid-19 vaccine.

Gold priced in US Dollars rallied to $1877 per ounce as longer-term interest rates fell back from their spike and global stock markets also retreated after setting fresh all-time highs on Pfizer’s vaccine news .

Hungary meantime said today it will become the first European Union member to trial Russia’s ‘Sputnik V’ Covid vaccine , "the latest in a series of moves that analysts say prove Budapest is cosying up to Moscow," according to the Financial Times .

"The gold market like all others is built on expectations," said James Steel, chief precious metals analyst at London bullion market-maker and clearer HSBC, "so it needs to recalibrate because we’re not going to get that 15% of GDP fiscal stimulus" proposed by US Democrat Joe […]

Click here to view original web page at www.bullionvault.com

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.