Gold down on COVID-19 news

Gold has fallen 0.16% following the U.S. pharmaceutical company - Pfizer’s announcement that results from the early stage human trial for BNT162b1, jointly developed with the German biotech firm BioNTech, showed production of neutralizing antibodies in all the patients who were inoculated after 28 days.

As hopes for the coronavirus cure loom, investors are looking to leaving safe-haven and developing appetites for riskier investments.

Analysts, warn, however, that this may not be the last we see of gold. As the number of COVID-19 cases continues to rise, the re-instatement of lockdown measures may be required. The WHO forecast of “the worst is yet to come” is too hardly comforting.

The number of cases has now surpassed the 10.6 million mark, according to data from Johns Hopkins University, so it’s only expected investors will rush back to safe-haven assets sooner than we know,.

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