Gold loses 1.80% on new COVID-19 vaccine

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.

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