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Gold prices have continued lower this week despite weakness in both equities markets and the US dollar.
It’s been a tricky week for traders. Establishing a directional grasp on the markets has been difficult given the mix of themes that are fighting for dominance at the moment.
Recently, concerns over the growing second wave of COVID had given way to optimism in response to the news regarding COVID vaccines.
Over the last two weeks, a number of firms have announced success in their COVID trials.
Firms such as Pfizer, Moderna, and AstraZeneca all announced claims of over 90% effectiveness in their drugs.
However, it has become clear that the vaccines won’t present quite the immediate solution to the pandemic that many were hoping for. As a result, the markets have corrected against initial rallies.
Traders are now awaiting further details regarding the approval of the drugs and their rollout by various governments.
Meanwhile, the US elections continue to exert an impact on p...
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