Gold loses 1.80% on new COVID-19 vaccine - Expert Commentary - Dukascopy Bank
Mon, 23 Nov 2020 16:33:06 GMT
Source: Dukascopy Bank SA
Since Monday, November 23, gold depreciated against the US Dollar. The XAU/USD exchange rate has already lost 3.58%.
It is likely that the demand for yellow metal as for the safe-haven asset dropped after news about the UK drugmaker AstraZeneca and its COVID-19 vaccine. The company claimed that its vaccine could be 90% effective.
Note that the given vaccine could be cheaper to make and easier to distribute than rivals.