On Monday, AstraZeneca announced its COVID-19 vaccine was 70% effective in pivotal trials and could be up to 90% effective, giving the world’s fight against the global pandemic a third new weapon that can be cheaper to make, easier to distribute and faster to scale-up than rivals.
“Vaccine Mondays” as they are now known – have become one of the most predictable money making opportunities that continue to present traders with an endless flow of lucrative back-to-back trading opportunities week-in-week-out.
Whilst gold remains vulnerable in the near-term – it goes without saying, the fundamental backdrop for precious metals remains extremely bullish in the long-term.
The vaccine might kill the virus, but not the vast mountains of debt and economic damage economic damage caused by the coronavirus pandemic. Central banks are expected to maintain ultra-loose monetary policies, which inadvertently will lead to higher inflation throughout 2021 and beyond.
Where are prices heading next?