'It's too early to dismiss coronavirus': Gold price setback is temporary – Commerzbank

‘It’s too early to dismiss coronavirus’: Gold price setback is temporary – Commerzbank

Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) After shedding $100 within hours, the gold price is back in recovery mode Tuesday, and that is to be expected, according to Commerzbank, which says it’s too early to rule out coronavirus from the equation.

"It is still too early to dismiss the threat posed by corona," said Commerzbank analyst Carsten Fritsch. "It will take some time yet for sufficient quantities of any vaccine to be made available and for widespread immunization to be achieved."

Monday’s news of progress in the development of a COVID-19 vaccine has sent precious metals lower and stocks higher as investors began to price in less stimulus in the future.

"In a matter of hours, the price plunged to $1,850 per troy ounce. For a […]

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