[ad_1]
In trading on Monday (23), gold futures prices closed sharply lower, the biggest drop in a day since early November. This was due to the positive development of new corona vaccines and treatments, which broke the recent foothold of gold and led investors to sell gold.
The pharmaceutical company AstraZeneca (AZN-US) announced the results of the study’s phase II / III clinical trial on Monday. The overall efficacy of the AZD1222 “Oxford vaccine” was developed in cooperation with the University of Oxford. The overall efficiency is approximately 70.4%.
More than 24,000 subjects participated in the Oxford Vaccine clinical trials. The curative effect analysis indicated that when subjects were vaccinated with a lower dose of the vaccine, 90% effectiveness would appear, and if the subject was vaccinated with a higher dose, 62% Efficacy of the total combined efficacy is of approximately 70.4%. It is not yet known where the difference is between high and low doses.
(Low dose: subject will receive half the AZD1222 dose first, then at least one month later, then the full dose of the second dose. High dose: subject will receive the full AZD1222 dose twice, with one month Of diference)
Prior to this, Pfizer and BioNTech, as well as the pharmaceutical manufacturer Moderna, had published upbeat news about similar vaccines.
The person in charge of the OWS Project (OWS) said that as long as the FDA approves the vaccine, it is possible to distribute vaccines to front-line workers this year.
The progress of the vaccine has always been a resistance to gold because it will reduce the safe haven appeal of gold and silver. Craig Erlam, a senior market analyst at Oanda, mentioned in a research report that “Gold does not particularly like all the news about vaccines.”
- The price of gold futures for December delivery fell US $ 36.40, or about 1.8%, to settle at US $ 1,837.80 an ounce.
According to FactSet, gold posted its biggest drop in a day on Monday since November 9. Many gold traders regard $ 1850 as a support point for gold. Erlam mentioned that after breaking this level, the next key support point is $ 1,800, and “this level may be tested soon.”
- December silver futures prices fell 73 cents, or 3%, to close at $ 23,633 an ounce.
The optimism caused by the new crown vaccine and treatment methods helped promote the purchase of risk assets. US stocks rose on Monday, with the Dow rising 1.11%, the S&P 500 rising 0.56 % and the Nasdaq Composite Index closing 0.22% higher.
The metals market and other general US financial markets will be closed Thursday for Thanksgiving.
Trade in other metallic raw materials
- Copper futures for December delivery fell 3.3 cents, or 1%, to settle at $ 3.2580 per pound, after rising 3.6% last week.
- The price of platinum futures for January delivery plunged 25.5 US dollars, or 2.7%, to settle at 931.70 dollars an ounce, up 6.8% last week.
- Palladium futures for December delivery rose roughly $ 30.50, or 1.3%, to close at $ 2,353.80 a pound, after falling 0.3% last week.
[ad_2]
