Gold Steady on Mixed Vaccine News, Resumed Risk Appetite

 Gold was up on Friday morning in Asia, with the markets digesting potential hiccups on the way to a global vaccination rollout providing a boost. However, increased risk-on appetite pushed prices in the opposite direction.

Gold futures inched up 0.09% at $1,807.20 by 11:58 PM ET (4:58 AM GMT), clearing the $1,800 mark. Trading volume was thin as major U.S. investors were absent from the market due to the Thanksgiving holiday.

Concerns over the global delivery of viable vaccination programs gave some upward impetus to gold prices, as some scientists expressed skepticism over how effective any such program was likely to be in the short-to-medium term. Outgoing U.S. President Trump has said a vaccine could be released publicly next week; however, current expectations are for the middle of December. more