x
Visit our new Mobile Website next time you access NetDania with your mobile device
Netdania News
Gold steadies Amid concerns over rising virus cases

Source FxWire Pro Sunday, 15 Nov, 2020 14:19:51 GMT
Back

Gold prices rose, supported by a softer dollar, while concerns about surging COVID-19 cases in the United States and logistical challenges over the mass roll-out of a potential vaccine further bolstered the safe-haven metal's appeal.

Spot gold rose 0.05 percent to $1,878.31 per ounce by 0720 GMT, having hit a high of $1965.57 on Monday, its highest since September 16. U.S. gold futures were flat at $1,876.30.

The metal fell 4.6 percent on Monday, its biggest daily fall since August 11 after drugmaker Pfizer said its COVID-19 vaccine was more than 90 percent effective based on initial trial results.          

The dollar eased against its rival currencies as optimism about a coronavirus vaccine was offset by worries about how the drug will be delivered and by a surge of new infections in the United States.

Initial optimism about coronavirus vaccine testing boosted the dollar against the yen and the Swiss franc, but the momentum started to fade because there are still several obstacles to clear before a vaccine can be distributed.

On Tuesday several U.S. states imposed restrictions to curb the spread of the coronavirus as hospitalizations soared, highlighting the difficulty in containing the virus as winter in the Northern Hemisphere approaches.

Federal Reserve policymakers said that surging coronavirus cases threatened to slow the U.S. economic growth once more in coming months and that more targeted government aid was needed.            

Risk sentiment improved as negotiators from the European Parliament and EU governments agreed the details of the 2021-2027 EU budget, in a crucial step for the activation of the bloc’s 1.8 trillion euro recovery package. Moreover, comments from UK government officials that a deal was imminent on a post-Brexit trade agreement with the European Union further supported risk appetite.

New Zealand’s central bank introduced a new funding programme on Wednesday that would reduce costs for lenders, while it held the official cash rate (OCR) steady at 0.25 percent and re-iterated rates would stay there until March 2021.

The greenback against a basket of currencies traded 0.05 percent down at 92.70, having touched a low of 92.13 on Monday, its lowest since September 1. The U.S. Treasury yields rose, with the benchmark 10-year note yield trading at 0.982 percent and the 30-year yield at 1.748 percent.

Source: FxWire Pro - Commentary
© FxWire Pro 2020. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.
Find a Top Broker
Global
Forex
30096.58
6.2
0.02%
3645.03
2.68
0.07%
12140.69
29.65
0.24%
18685.23
-476.38
-2.49%
13305.78
-14.21
-0.11%
26375.46
-106.55
-0.40%
3395.33
-7.49
-0.22%
6452.34
96.87
1.52%
26828.33
146.23
0.55%
6689.96
4.81
0.07%
13078.40
23.25
0.18%
1804.76
-4.39
-0.24%
48.35
0.55
1.15%
1.19042
0.00068
0.06%
104.464
-0.044
-0.04%
1.33547
-0.00071
-0.05%
0.73546
-0.00117
-0.16%
1.30013
0.00052
0.04%
124.35800
0.02
0.02%
0.89135
0.00098
0.11%
139.51200
-0.129
-0.09%
0.91078
-0.00015
-0.02%
1.08421
0.00044
0.04%
0.69821
0.00041
0.06%
92.08300
-0.143
-0.16%
Top Gainers
Name
Last
+/-
%
5.00
4.00
400.00%
3.60
2.17
151.75%
6.04
3.22
114.18%
2.53
1.18
87.48%
4.21
1.96
87.11%
0.06
0.02
65.28%
1.30
0.43
48.62%
0.60
0.19
46.02%
0.82
0.24
42.61%
2.86
0.79
38.16%
Top Losers
Name
Last
+/-
%
0.03
-0.01
-27.79%
0.28
-0.11
-27.27%
24.84
-9.09
-26.79%
0.47
-0.17
-26.56%
1.35
-0.48
-26.23%
4.94
-1.56
-24.00%
7.24
-2.25
-23.71%
0.51
-0.16
-23.45%
6.01
-1.74
-22.45%
5.05
-1.41
-21.83%
NetDania does not guarantee the accuracy of data contained on this website, nor do we guarantee that data is real-time. Data on this website may be provided from OTC market sources and market makers, and not necessarily from exchanges. The provided price data is indicative and may not be appropriate for trading or decision making purposes. NetDania does not assume any responsibility for any losses incurred from the use of the provided data.
NetDania does not endorse or promote any broker or financial service. NetDania is a pure technology provider offering its software with broker integration. Any user of NetDania software must be an existing client of one of our supported brokers. NetDania showcases NetDania technology for the purpose of demonstrating it towards brokers and other institutions looking to white label the technology on a software subscription contract. No financial services are offered, promoted or recommended. NetDania is compensated as a technology provider by its institutional clients including its integrated brokers. It is the sole responsibility of any recipient employing or requesting an offering to comply with all applicable legislation or regulation affecting it.

Persons or entities including approved brokers not belonging to the NetDania Group may advertise on the NetDania and its Group’s websites, through links, banners or otherwise. We have not taken any steps to verify the accuracy, quality or reliability of any products, information or services provided by third parties that have links on our website. We accordingly provide no warranties with regard to and disclaim responsibility for any such products, information or services and exclude all liability in this regard to the fullest extent permitted by relevant laws and regulations. If a user of the NetDania Group’s websites decides to act upon any such advertising, such user does so entirely at its own risk.

NetDania’s website may be accessed worldwide. The Information provided on its website is however only intended for use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. None of the offerings services referred to on this website are available to recipients residing in countries where the provision of such offerings would constitute a violation of mandatory applicable legislation or regulations. It is the sole responsibility of any recipient employing or requesting an offering to comply with all applicable legislation or regulation.

HIGH RISK INVESTMENT WARNING:
End-users of the NetDania software that make use of the trading integration features as direct clients of integrated brokers, should be aware of the level of risk carried by trading in financial markets. Trading foreign exchange and or other financial instruments on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or more of your initial investment, and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from your broker and or an independent financial advisor if you have any doubts. Anyone opening a live trading account needs to adhere to the laws of their local country as such laws may differ from country to country.
NetDania expressly disclaims any liability for any lost principal or profits which without limitation may arise directly or indirectly from the use of or reliance on information on our website or the use of our software with broker integration.
Copyright © 1998 -2020 NetDania Creations ApS, Bredgade 30, 1st floor, DK-1260 Copenhagen K, Denmark, +4536980409, Contact NetDania by email, CVR-nr.27976670 Terms And Conditions and Privacy Policy