Once bitten, twice shy is the saying. In gold’s case, it appears that once pricked, it’s twice as strong.
A week ago, gold was on the mat, knocked out by Pfizer’s COVID-19 vaccine news that sapped almost 5% or $100 from the yellow metal—the most in a single day since August.
Fast forward one week later:
Gold took another sucker punch, this time from Moderna’s update on its coronavirus vaccine. But far from the knockout blow, this one landed gold on the ropes. After a moment, it was back on its feet, stung but not out. Gold Daily Question: Has gold gotten past the scare of the COVID-19 jabs—which are as much a safeguard against the virus as they are an antithesis to a rally in the yellow metal?Jeffrey Halley, Sydney-based analyst for New York brokerage OANDA, certainly thinks so, saying in a note issued early Tuesday: “After the trauma of the […]
November 17, 2020 (updated November 17, 2020) Published by StockMan