Gold prices fall 4% after news of the effectiveness of a "Corona" vaccine

Gold prices fell sharply during trading, today, after the company, "Pfizer", said that preliminary data from a large study showed that its anti-Corona vaccine is more than 90% effective, which pushed stock markets to a sharp rise and undermined the attractiveness of the metal Al-Nafees as a safe haven investment.

The price of gold in spot transactions fell more than 4% to $ 1872.39 an ounce by 1345 GMT.

US gold futures fell 3.7% to $ 1878.90 an ounce.

Earlier, gold prices jumped to their highest level since September 16 at 1965.33 dollars an ounce, driven by the weakness of the dollar amid hopes of more stimulus in the wake of Joe Biden's victory in the US presidential election.

Among other precious metals, silver tumbled more than 5% to $ 24.15 an ounce, while platinum fell more than 3% to $ 855.13 an ounce.

Palladium also fell 1.5% to $ 2,452.71 an ounce.

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