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.
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