Gold Declines amid Strong Correction

After a slight rebound on Thursday, Thanksgiving holiday in the United States, it seems that the yellow metal’s correction wave is far from over.

Gold futures are seeing negative performance with large losses on Black Friday, on the road to record its biggest weekly decline in about two months.

Positive news about a number of Coronavirus vaccine candidates are reducing demand for safe havens and improving risk appetite among investors.

Gold futures for February delivery are down by about 1.80% trading at $1,778 per ounce.