Gold Sees Steady Buying In Asian Trades

Published on Dec 01, 2020 12:22

COMEX Gold futures extended losses under $1800 per ounce and tested a five week low under $1770 per ounce on continued optimism regarding Covid-19 vaccine. Moderna Inc will apply for US and European emergency authorization for its COVID-19 vaccine on Monday after full results from a late-stage study showed it was 94.1% effective with no serious safety concerns, the company said. Moderna also reported that the vaccine`s efficacy rate was consistent across age, race, ethnicity and gender demographics as well as having a 100% success rate in preventing severe cases of a disease that has killed nearly 1.5 million people. Gold cut losses though as US dollar index fell to a two and half year low. COMEX Gold now trades at $1788 per ounce, up 0.44% on the day.