Gold Jumps 1% as Focus Returns on Easing Monetary Policy

Gold rose 1% Tuesday, November 10, after a sharp decline in the previous session, with the return of focus to the possibility of taking more monetary stimulus measures to revive a global economy still suffering from the repercussions of the Covid-19 pandemic.

By 06:05 GMT, spot gold had jumped 1.1% to 1,881.39 dollars an ounce. And US gold futures rose 1.3% to $ 1878.70 an ounce.

Prices fell 5.2% on Monday after the American company Pfizer said that its experimental vaccine for Covid-19 disease exceeds 90% effectiveness, based on the results of initial experiments.

Although optimism about the vaccine has boosted risk appetite, uncertainty still hangs over the implications of the increase in COVID-19 cases in the United States and Europe.

As for the other precious metals, silver rose 0.2% to $ 24.12 an ounce. Platinum rose 0.2% to $ 868.45 an ounce. Palladium rose 0.3% to $ 2,484.67 an ounce.