Vaccine Announcement Arrives: Gold Prices Have Declined

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While the new type of coronavirus (Covid-19) vaccine studies continue at full speed, important pharmaceutical companies have started to make announcements that the vaccine is available one after another. This situation negatively affects gold prices.

After Pfizer and BiOnTech announced that they had found a vaccine for the new type of coronavirus, gold prices fell sharply. Especially gram gold investors suffered with this decline. Today, another company made a vaccine announcement. The US-based company Moderna stated that the vaccine was 94.5 percent effective. After this announcement, S&P 500 Index futures jumped, while below it decreased.

After the news, gram gold declined to 462 TL levels during the day. At the time of writing, it was being traded at 466 TL. However, ounce of gold has decreased by approximately 1%. Ounce of gold was trading at $ 1886 at the time of writing. According to analysts, markets should not focus on the upcoming vaccine news. Gold investors, in particular, need to be alert to the vaccine news of other companies in the coming weeks. Every successful vaccine announcement could increase the pressure on gold prices.

Meanwhile, Moderna’s vaccine candidate has more advantageous points than the vaccine of Pfizer and BionTech. According to the statements, the vaccine can last for 30 days at a standard refrigerator temperature of 2-8 degrees.

What’s the case with Bitcoin?

After the news of Moderna’s vaccine, there was no negative movement in the Bitcoin (BTC) price. On the contrary, the leading cryptocurrency has experienced an increase of 3% in the last 24 hours, reaching the level of 16,330.

See Also
Vaccine That Neutralizes Corona Virus in Human Cells

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