Gold Down Over Hopes For a COVID-19 Vaccine By Investing.com



© Reuters.

By Gina Lee

Investing.com – Gold was down on Thursday morning in Asia, with investor sentiment boosted by positive results from yet another potential COVID-19 vaccine.

U.S. pharmaceutical company Pfizer (NYSE:) announced the results from the early stage human trial for BNT162b1, its mRNA candidate jointly developed with German biotech firm BioNTech (NASDAQ:), on Wednesday. The results showed production of neutralizing antibodies in all the patients who were inoculated after 28 days.

Pfizer also has three other mRNA candidates under development.

were up by 0.66% at $1,671.75 by 12: AM ET (5: AM GMT), as investors retreated from the safe-haven asset as their appetite for riskier assets increased. Stocks, which usually move in the opposite direction to gold, were up on Thursday.

But the yellow metal could yet shine gain back its shine. The ever-increasing numbers of COVID-19 cases prompted the World Health Organization to warn on Wednesday that re-instatement of lockdown measures could be required for some countries. California heeded the call on the same day as the state reimplemented some lockdown measures including bar closures and bans on indoor restaurant dining.

Meanwhile, the number of COVID-19 cases has surpassed the 10.6 million mark, according to data from Johns Hopkins University.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.