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Gold costs had been little modified on Tuesday, as issues over spiking U.S. coronavirus circumstances offset stress from vaccine optimism caused by a constructive vaccine trial knowledge.
FUNDAMENTALS
* Spot gold was unchanged at $1,887.99 per ounce by 0050 GMT, whereas U.S. gold futures had been up 0.1% at $1,888.70.
* Bullion dropped as a lot as 1.3% on Monday after drugmaker Moderna stated its experimental vaccine was 94.5% efficient in stopping COVID-19 primarily based on interim knowledge from a late-stage trial.
* President-elect Joe Biden on Monday referred to as on Congress to return collectively and cross a brand new coronavirus reduction package deal.
* Forty U.S. states have reported file will increase in COVID-19 circumstances in November, whereas 20 have seen a file rise in deaths and 26 reported file hospitalizations, based on a Reuters tally of public well being knowledge.
* Successful exams of two coronavirus vaccine candidates have elevated the possibility of a quicker than anticipated U.S. financial restoration, Federal Reserve Vice Chair Richard Clarida stated on Monday.
* The euro zone is going through a drawn-out restoration from a deep recession and wishes extra help from each the European Central Bank and governments, a number of policymakers stated on Monday.
* Asian shares opened firmer after the S&P 500 and Dow Jones indexes hit file highs on information of one other promising coronavirus vaccine. [MKTS/GLOB]
* Speculators lower their web lengthy place by 10,995 contracts to 110,957 on COMEX gold in week to Nov. 10, he U.S. Commodity Futures Trading Commission (CFTC) stated on Monday.
* Silver fell 0.1% to $24.74 per ounce. Platinum was flat at 925.50, whereas palladium fell 0.4% to $2,323.30.
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