On Tuesday (December 1) in the Asian session, the DOLLAR fell under pressure, now at 91.85 around; Spot gold continued to rise in the short term, with gold just breaking through the $1,780 / oz barrier. Gold prices were supported by renewed tensions in the Middle East and increased risk aversion following the latest attack that killed a senior Iranian commander. However, gold’s gains were capped by optimism over the coVID-19 vaccine and a smooth transition in the White House, with the latest news that Joe Biden, the US Democratic presidential candidate, received his first daily presidential briefing on Monday local time.
Spot gold closed lower on Monday, but closed significantly higher than the day’s lows. Spot gold closed at $1,776.70 an ounce, down $9.43, or 0.53 percent, after hitting its lowest level since May 2 at $1,764.34 an ounce.
Novel Coronavirus novel trial efficacy high: 94.1% without serious safety concerns, BIOTECH company Moderna said On November 30 that it will apply for emergency use licenses of its COVID-19 vaccine in the U.S. and European countries after complete results of its vaccine trials showed a novel Coronavirus resistance of up to 94.1%. Pfizer, another pharmaceutical company using similar technology, has filed for approval in the United States.
The Pfizer and Merck vaccines could be available in the United States before Christmas, U.S. Health Secretary Azar said Nov. 30. The introduction of the coVID-19 vaccine will boost economic performance and reduce demand for safe-haven gold.
Astrazeneca, the British pharmaceutical giant, said last Monday that interim analysis of clinical trials showed its coronavirus vaccine had an average protection of 70 percent against the virus. Pfizer has also reported a series of encouraging results from vaccine trials.
Marketwatch reported that gold prices fell on Monday as positive developments in the coVID-19 vaccine continued to reassure investors and drive money out of safe-haven assets.
“The vaccine news has made the market very optimistic,” said Craig Erlam, analyst at OANDA. “We are seeing some outflows from safe-haven assets such as the DOLLAR and US Treasuries, and gold is also reflecting that.”
However, spot gold continued its intraday rally on Tuesday, with gold hitting as high as $1,781.89 an ounce as the dollar weakened and Middle East tensions triggered safe-
According to Economies.com, the price of gold has rebounded significantly after hitting $1,765.00 an ounce and is expected to test the $1,794.84 level in the afternoon. A double dip could push gold above $1,794.84 an ounce, with further gains to come. To do that, gold would need to continue to break through $1,783.50 an ounce and close above that level.
Ole Hansen, head of commodity strategy at Saxo Bank, said he remains bullish on gold in the short term. Hansen says he sees weaker prices as a buying opportunity.
ThinkMarkets market analyst Fawad Razaqzada said gold’s decline could not get any worse as the dollar weakens and Treasury yields move modestly.
Iran’s top commander has been killed by a drone
New news from Iran. The death of Iran’s top nuclear scientist, Mohsen Fakhrizadeh, on June 27 was followed by the reported death of a senior revolutionary Guard commander in an air strike.
According to several of the Arab media quoted officials as saying, November 29 evening local time, in Iraq and Syria near the border with Iraq’s region, senior Iranian revolutionary guard commander, Muslim shah, Dan (Muslim Shahdan) attacks by unmanned aerial vehicle (uav) in a vehicle, contains three Dan and his entourage shah were killed in the attack. Iran has neither confirmed nor denied the report.
Al-arabiya television, citing Iraqi intelligence sources, said Mr. Shahdan’s car was attacked after crossing the Border into Syria from The town of Jaim.
The body of Shahdan, whose car was attacked after crossing the Border into Syria from Jaim, has been transferred to The Iraqi capital Baghdad, Russia Today reported On November 30.
Two Iraqi People’s Mobilization Officers and a Syrian journalist confirmed that Shahdan was attacked not in Iraq but in Syria, where a U.S. military camp is located between ABU Kamal and Deir Ezzor. The Syrian side observed the incident.
According to Reuters, two Iraqi security officials said Shahdan’s vehicle, which was armed, was hit shortly after crossing the border from Iraq into Syria.
In January, a US drone strike killed Qassem Soleimani, a senior revolutionary Guard commander. Suleiman is in charge of military operations outside Iran.
Muhsen Fakhrizad, 59, the head of Iran’s defense Ministry’s research and innovation institute and chief nuclear scientist, was assassinated in a town near the capital Tehran on November 27, local time. Iran has linked Israel to the attack, calling it an “act of terrorism”.
Fakhrizad died in hospital after his car was hit by a suicide bomber and shot by unknown terrorists, Iran’s Tasnim news agency quoted the defense ministry as saying.
On Nov. 27, Iranian Foreign Minister Mohammad Javad Zarif said there were clear indications that Israel was involved in the assassination of Fakrizad.