Gold Dropping Amid Less Demand as The Vaccine Begins to be Used

Gold prices fell on Monday, December 14th, as riskier assets rose due to the start of the use of the Covid-19 vaccine, which cast a shadow over hopes for more financial and monetary stimulus in the United States.

The spot price of gold was down 0.3% to $ 1833.21 an ounce, while US gold futures were down 0.3% to $ 1838.10.

On Sunday, the first shipments of the Coronavirus vaccine began from Pfizer and Biontech in the United States, which raised Asian stocks. But gold losses were capped by reports of a $ 908 billion bailout that could be approved today after a senior Democratic lawmaker said his party might be ready to compromise.

Silver fell 0.1% to $ 23.90 an ounce, while platinum rose 0.8% to $ 1016.57 and palladium rose 0.3% to $ 2325.65 an ounce.