Pollen optimism puts gold on track for its worst monthly performance in 4 years

Gold fell today, registering its worst monthly performance in four years, as optimism about an economic recovery from the "Corona" virus, driven by a vaccine, stimulated investors to buy high-risk traditional assets.

In spot transactions, gold fell about 1% to $ 1771.22 an ounce by 0452 GMT, dropping 5.7% since the beginning of this month, in the biggest decline since November 2016.

And US gold futures fell 0.7% to $ 1775.

"The optimism stemming from the vaccine about an economic recovery is effectively undermining the attractiveness of safe-haven investments like gold," said Michael McCarthy, chief strategist at CMC Markets, adding that the fall of the yellow metal below $ 1,800 is another incentive for sales.

As for the other precious metals, silver fell 2.9% to $ 22.03, while platinum fell 0.5% to $ 959.13 and palladium fell 0.2% to $ 2,420.36.

Follow our latest local and sports news, and the latest political and economic developments via Google news