Gold closes higher, but posts second straight weekly loss

2020-11-20 20:56:40 GMT (Economies.com)
Gold closes higher, but posts second straight weekly loss

Gold prices rose on Friday, as the US dollar turned higher against most of its peers, but the precious metal suffered weekly losses following the positive news about the Covid-19 vaccines.

 

The pharmaceutical giant Pfizer and the German firm BioNTech announced on Wednesday that the recent data from the final phase of the clinical trials on their Covid-19 vaccine showed it was 95% effective.

 

This came a few days after Moderna announced that its coronavirus vaccine was more than 94.5% effective in preventing the disease.

 

The dollar index held against a basket of major currencies by 0.1% to 92.4 points as of 20:12 GMT, after hitting a high of 92.4 points and a low of 92.2 points.

 

Gold December futures rose 0.6% or $10.9, and closed at $1,872.40 an ounce, with a weekly loss of 0.7%, after hitting today's high at $1,879.2, and the low at $1,859.1.

 
 
 
  Symbol Last Change Chg.%
1.1923
0.0029
0.2413%
1.3324
-0.0059
0.4438%
Tadawul
8693.47
65.41
0.76%
23.189
-0.857
3.564%
45.405
2.580
6.024%
48.14
0.36
0.75%
1805.890
-60.620
3.248%
 
 
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