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 […]
- Do contribute something to the discussion
- Do post factual information, analysis and your view on company valuations
- Do disclose if you have an interest in a security
- Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
- Do not complain about a post unless you have reported it first, and not on the forum.
- Do not post financial advice
- Do not advertise or post sponsored content