New Delhi: The corona vaccine (Covid-19 Vaccine) is expected to boost the economy, which has led to a sharp fall in gold prices. Explain that the expectation of corona vaccine has affected safe investment properties. Monday’s Gold rates Today have reached a 5-month low. At present, investors are withdrawing money in gold and investing in the stock market, due to which the rates of gold are declining.
Improving the performance of markets around the world
Stock markets around the world have performed best due to the optimism created by the vaccine about economic recovery.
Gold hits July 2 low
On Monday, spot gold fell 0.8 per cent to 1, 1,774.01 an ounce, pushing gold down 5.6 per cent this month. At the same time, the precious metal touched a post-July 2 low of 7 1,764.29 an ounce during the trading session.
Dollars, even withdrawals from the Treasury
U.S. gold futures fell 0.6 percent to 7 1,771.20 an ounce. Expert Craig Erlam said the news of the vaccine has created a lot of optimism in the market and we are seeing some withdrawal from safe haven assets like dollar, treasury and these things are reflected in gold prices.
Find out how much silver has fallen
On a monthly basis, silver has seen a decline of 5.5 percent. Silver also fell 1.6 percent to 22 22.34 an ounce on Monday. Platinum rose 1.3 percent to 75 975.84. Palladium, meanwhile, slipped 0.7 percent to 40 2,407.51.
ActivoTrades expert Carlo Alberto de Casa said in a note that the short-term trend of the precious metal has come to terms with the declining price, although its support level is 1, 1,850. It states that investors turned to other assets, which are paying off faster. However, he remembers that the central banks will be forced to print notes for many years to overcome the crisis so that the economy can improve.
