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 […]
November 14, 2020 (updated November 14, 2020) Published by StockMan