Gold price dropped $100, or 4.5% on Monday as Pfizer announced that its COVID-19 vaccine is 90% effective. The S&P 500 climbed 2.9%, the Dow is up 3.8%, and the NASDAQ is up only 1%, dragged down by companies that benefit from the work from home culture, like Zoom (-12%) and Netflix (-4%). Peter Hug, global trading director of Kitco Metals, said that these moves factor in expectations that are a bit ‘premature’.
This Week’s Gold Drop And Stock Market Seasonality – Mike Swanson (11/25/2020)
Gold Prices And SPDR Gold Trust ETF (NYSEARCA: GLD) Are Trading Right On Long-Term Support – Tim Bellamy (11/24/2020)
Gold’s Momentous Rally From 2000 Compared To SPY & QQQ – Part II – Chris Vermeulen (11/17/2020)
Gold’s Momentous Rally From 2000 Compared To SPY & QQQ – Part I – Chris Vermeulen (11/16/2020)