World News – GB – Gold is falling on Moderna and Bitcoin is higher – MarketPulse

Gold prices fell on Monday after the initial phase of the Moderna trial showed that the Coronavirus vaccine had more than 94% in preventing infection. Financial markets embraced the good news and began pricing in full, returning to pre-pandemic life before next winter, prompting the abandonment of safe havens, such as the dollar.. Gold fell over $ 30 but quickly recovered most of its losses after the dollar weakened.

On paper, it looks like Moderna has won the pollen race. Its Covid-19 vaccine has a slightly more effective rate than Pfizer and is much easier to store. However, this will be Moderna’s first approved drug for vaccination and will likely mean that they will have more barriers to production.. Operation Warp Speed ​​will provide all the resources to Pfizer, Moderna, and possibly others.

The vaccine news was extremely negative for the US dollar as it changed the macroeconomic background for the rest of the world. Sure, the dollar will become a funding currency sometime in 2021 and that should pave the way for significant weakness. Gold may not get massive congressional stimulus or steady safe-haven flows from Covid-19 worries, but the Fed’s policy that will ultimately lead to dollar weakness should allow the precious metal to take another path toward the $ 2,000 line, which is important from Psychological level.

Bitcoin ignored Moderna vaccine news and resumed its upward trend. Bitcoin appears to have everything going well: mainstream acceptance is improving, and President-elect Biden has appointed Gary Gensler, someone seen as a friend of cryptocurrencies, to lead his financial policy shift, and steady institutional interest.. It looks like Bitcoin might have enough momentum before the end of the year to make that go towards the 20 level. $ 000 USD.

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Moderna, Gold, Foreign Exchange Market, Vaccine