Phil Carr
The Gold & Silver Club
Gold retreated to 1-week lows as a potential COVID-19 vaccine developed by AstraZeneca Plc and Oxford University produced a strong immune response in older adults, giving hope it may protect some of those most vulnerable to the disease.
The data, published in full, suggests that those aged over 70 - who are at higher risk of serious illness and death from COVID-19 - could build robust immunity to the pandemic disease.
But rival drugmakers Pfizer Inc, BioNTech and Moderna have in the past 10 days edged ahead, releasing data from late-stage COVID-19 vaccine trials that shows more than 90% efficacy.
AstraZeneca has signed several supply and manufacturing deals with companies and governments around the world as it gets close to reporting results of its late-stage trials.
Gold is currently up 23% this year, boosted by its appeal as a hedge against inflation and currency debasement and unprecedented stimulus measures globally.
Elsewhere increased coronavirus-driven restrictions in the United States, where the death toll crossed 250,000, caused Asian equities to fall from record highs.
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