Vaccine news could weigh on gold prices amidst shifting interest rate expectations – ABN AMRO

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) – The gold market will remain sensitive to further vaccine news, but that doesn’t mean the rally is over just yet, according to one Dutch bank.

In a report released Wednesday, Georgette Boele, currency and precious metals strategist at ABN AMRO, said that gold’s direction could all depend on how expectations for a potential vaccine could impact economic growth going forward.

The comments come as gold prices continue to struggle below $1,900 an ounce. December gold futures last traded at $1,876.30 an ounce, down 0.47% on the day.

Boele noted that since 2019 gold has been an attractive safe-haven asset, protecting investors in case of a collapse of the financial system as well as a hedge against rising inflation; however, […]

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