Markets News

Gold will be affected as the Covid-19 cases increase in US

On Wednesday, the prices of gold went up and there are also tensions increasing because of the increasing cases in the United States.

Michael Langford said that the vaccine is not proper and COVID-19 will be a problem and the vaccine will take time.

On Tuesday coronavirus cases threatened to slow the U.S. economic growth once more in coming months.

The states near the US have once again put restrictions on several things because of increasing cases.

On Monday, its biggest daily fall in gold prices since august was witnesses with 4.6 per cent.

This happened because drugmaker Pfizer said its COVID-19 vaccine was more than 90% effective in the initial level.

Once it will be ready then challenges of distributing hundreds of millions of doses once it is ready to use.

The main questions is about the production, distribution and actual performance of the vaccine for the investors for convincing in a short period of time.

Central banks and governments are doing their best to keep everything intact and make the economic conditions better.

Gold, which has risen 24% so far this year and silver climbed 0.8% and Platinum rose 0.6% and lastly palladium was up 0.5%.

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