Corona Vaccine Announcement Impact on Gold & Silver

People buy Gold and silver to fight their fear as they feel that higher the fear, it is gold and silver which will help them fight the inflation.

Thus we saw the rally in gold and silver in current months due to coronavirus fear which pushed the prices of the precious metal through the roof.

Russia on Tuesday declaring itself the first country to approve a coronavirus vaccine with President Vladimir Putin saying one of his daughters had been inoculated.
Dubbing the vaccine "Sputnik V" after the Soviet-era satellite that was the first launched into space, Russian officials said it provided safe, stable immunity and denounced Western attempts to undermine Moscow's research.

Scientists in the West have raised concerns about the speed of development of Russian vaccines, suggesting that researchers might be cutting corners and coming under pressure from authorities to deliver.

The above announcement will have an implications on the gold and silver prices as it negates the fear against the virus and thus in short term we see that selling will be seen in precious metals. However, the long term trend in gold and silver remains bullish.

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