Gold prices rose on Tuesday during the Asian session, and the rise continued during the European session, to recover some of the losses of the previous session.
Investor appetite for risk increased following news that a new and promising treatment for the Coruna virus from Moderna had been reached. The company said that the results of the first phase of the tests were good.
45 people participated in the experiment, and they all managed to develop antibodies to the virus after two doses.
And that is still the first stage of treatment, that is, there are stages on a larger scale, and then approval comes from the US Food and Drug Administration. The effect of the vaccine on market sentiment depends on a number of changing factors such as the speed of its production, the speed of its dissemination and distribution.
Gold futures rose 0.18% to $ 1,737.05 an ounce, while gold rose in spot transactions to $ 1,736.93 an ounce.
The tension between the United States and China continues to heat up, with the Nasdaq Stock Exchange ready to impose new restrictions on Chinese public offerings.
The United States also encourages US companies to move their operations or major service providers out of China.
Gold rose 14% in 2020, with unprecedented interest rate waves and other stimulus plans to fight the Corona virus.