PRECIOUS-Gold gains on investor bets for further monetary support

PRECIOUS-Gold gains on investor bets for further monetary support

* More positive vaccine news negative short term for gold- analyst * Interactive graphic tracking global spread of coronavirus: tmsnrt.rs/3mvcUoa (Updates prices) By Asha Sistla Nov 10 (Reuters) – Gold rebounded on Tuesday, rising more than 1%, as investors bet on continued monetary support from central banks to revive a pandemic-hit global economy. Gold had fallen sharply on Monday as optimism for a COVID-19 vaccine lifted appetite for riskier assets. Spot gold climbed 0.9% to $1,877.86 per ounce by 1321 GMT on Tuesday, while U.S. gold futures rose 1.2% to $1,876.40. Prices slumped as much as 5.2% on Monday after U.S. drugmaker Pfizer Inc said its COVID-19 vaccine was more than 90% effective based on initial trial results. Attributing gold’s gains to investors reassessing their positions after Monday’s "euphoric moves", OANDA analyst Craig Erlam said a break above $1,900 would suggest gold might be realigning on likely monetary easing […]

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