Gold is trading near four-month lows



Gold dropped to a four-month low after news broke that AstraZeneca’s experimental vaccine was able to prevent 90% of Covid-19 infections in the final stages of testing. After the Pfizer vaccine, it became the second in the United States and third in the world to protect against coronavirus, which successfully completed trials and performed better than expected.

What are the benefits of the AstraZeneca vaccine?

Firstly, it is much cheaper than analogs. According to preliminary estimates, the cost of one dose of vaccine from Moderna will range from $ 25 – $ 37, Pfizer – $ 18, AstraZeneca – $ 4.

Secondly, it is not so demanding on storage conditions (it can be stored at 2-8 degrees Celsius). Also, no special conditions are required for vaccination.

After receiving the approval, AstraZeneca expects to begin production of the vaccine and plans to create about 3 billion doses next year.

Positive news from the fields of pharmaceutical companies triggered another wave of gold sales, which fell by $ 150 this month alone.

Despite the relatively attractive price, I would not recommend buying gold at current levels, because investors continue to withdraw their funds from metal-backed ETFs as demand for safe-haven assets gradually declines. This is due to the fact that the US government may abandon the introduction of new measures to stimulate the economy, which this year provoked the rapid growth of precious metals.

“For weeks, ETF capital outflows have increased pressure on gold as the second wave of coronavirus sweeps across the world, while vaccine announcements have also sent safe haven assets down,” said Daniel Ghali, strategist at TD Securities …

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Gold dropped to a four-month low after news broke that AstraZeneca’s experimental vaccine was able to prevent 90% of Covid-19 infections in the final stages of testing. After the Pfizer vaccine, it became the second in the United States and third in the world to protect against coronavirus, which successfully completed trials and performed better than expected.

What are the benefits of the AstraZeneca vaccine?

Firstly, it is much cheaper than analogs. According to preliminary estimates, the cost of one dose of vaccine from Moderna will range from $ 25 – $ 37, Pfizer – $ 18, AstraZeneca – $ 4.

Secondly, it is not so demanding on storage conditions (it can be stored at 2-8 degrees Celsius). Also, no special conditions are required for vaccination.

After receiving the approval, AstraZeneca expects to begin production of the vaccine and plans to create about 3 billion doses next year.

Positive news from the fields of pharmaceutical companies triggered another wave of gold sales, which fell by $ 150 this month alone.

Despite the relatively attractive price, I would not recommend buying gold at current levels, because investors continue to withdraw their funds from metal-backed ETFs as demand for safe-haven assets gradually declines. This is due to the fact that the US government may abandon the introduction of new measures to stimulate the economy, which this year provoked the rapid growth of precious metals.

“For weeks, ETF capital outflows have increased pressure on gold as the second wave of coronavirus sweeps across the world, while vaccine announcements have also sent safe haven assets down,” said Daniel Ghali, strategist at TD Securities …

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Gold dropped to a four-month low after news broke that AstraZeneca’s experimental vaccine was able to prevent 90% of Covid-19 infections in the final stages of testing. After the Pfizer vaccine, it became the second in the United States and third in the world to protect against coronavirus, which successfully completed trials and performed better than expected.

What are the benefits of the AstraZeneca vaccine?

Firstly, it is much cheaper than analogs. According to preliminary estimates, the cost of one dose of vaccine from Moderna will range from $ 25 – $ 37, Pfizer – $ 18, AstraZeneca – $ 4.

Secondly, it is not so demanding on storage conditions (it can be stored at 2-8 degrees Celsius). Also, no special conditions are required for vaccination.

After receiving the approval, AstraZeneca expects to begin production of the vaccine and plans to create about 3 billion doses next year.

Positive news from the fields of pharmaceutical companies triggered another wave of gold sales, which fell by $ 150 this month alone.

Despite the relatively attractive price, I would not recommend buying gold at current levels, because investors continue to withdraw their funds from metal-backed ETFs as demand for safe-haven assets gradually declines. This is due to the fact that the US government may abandon the introduction of new measures to stimulate the economy, which this year provoked the rapid growth of precious metals.

“For weeks, ETF capital outflows have increased pressure on gold as the second wave of coronavirus sweeps across the world, while vaccine announcements have also sent safe haven assets down,” said Daniel Ghali, strategist at TD Securities …




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