COMEX Gold softens on vaccine optimism

July 13,2020

COMEX Gold futures eased on Friday as soaring US equities capped the upside for the yellow metal. The Dow jumped 1.4% on Friday after Gilead Sciences (GILD) said remdesivir showed a sharp mortality risk drop when used to treat patients suffering from the Covid-19. Gold could see some further selling pressure as the developments over weekend showed that Russia's Sechenov university has completed the clinical trials of the world's first coronavirus vaccine on their volunteers. COMEX Gold futures fell for a second session on Friday as a drop from nine year highs continued and closed at $1801 per ounce, down 0.12% on the day.

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