Gold Down on Positive Vaccine News

19 November 2020

    Gold was seen down Thursday morning in Asia as Pfizer announced their vaccine safe to go for approval to the US Food and Drug Administration (FDA), with emergency approval possible within a few days.


    "(Vaccines) seem to be progressing quickly and there are several others also in the pipeline ... that should help the global economy recovery and be net bearish for gold. But in the meantime, the fact that we're not out of the woods yet and need more stimulus seems to be offering some support», ED&F Man Capital Markets analyst - Edward Meir, commented.


    As a result, gold futures were seen down 0.44% to $1,865.65 by 4:21 AM GMT, while dollar gained strength on the potential solution to the world’s pandemic situation. 

    *The products advertised are only available to clients under Fondex Limited Seychelles (SDL No: SD037).


Cookies on Fondex

The Fondex website uses cookies to optimise user experience.

These cookies fall under the following categories: essential, functional and marketing cookies. Marketing cookies may also include third-party cookies.

Manage Preferences

You can customize your selection of which cookies you want to accept.

  • Essential

    These cookies are necessary for the website to function correctly and cannot be switched off.

  • Functional

    Functional cookies allow the website to remember users' preferences and the choices you make on the website such as username, region, and language.

  • Marketing

    These cookies are used to track visitors across our websites and show you more relevant ads. Marketing cookies also include third-party cookies from partners. For more information relating to data protection & collection please view our Privacy Policy and Cookie Disclosure.


The Company would like to inform you that it will terminate its operations under the "Fondex" brand by 30th of December 2022. If you wish to open a trading account, kindly visit