The U.S. election is still more important for gold than vaccine news – Wilshire Phoenix

(Kitco News) – The gold market is once again struggling to find momentum as investors continue to focus on a possible vaccine to eradicate the COVID-19 virus that has devastated lives around the world.

However, one fund manager said that it is still too early to celebrate a potential vaccine, and instead, investors should continue to focus on gold as Democratic nominee Joe Biden continues to solidify his role as president-elect.

William Cai, a partner at Wilshire Phoenix, said that he thinks the election is still a much bigger factor for gold than the announcement that Pfizer and BioNTech have a potential vaccine.

“Our view is that there are still a lot of questions surrounding this vaccine. It has to be kept really cold, so there is a question of how will even be rolled out,” he said. “The news doesn’t change the view on the ground when it comes to the […]

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