Gold prices, which have been rising for months in global markets due to the uncertainties arising from the pandemic process, are falling sharply due to the developments in the COVID-19 vaccine. US President Trump’s words that the Covid-19 vaccine will be ready by the end of the year and Russian President Putin’s announcement that Russia’s first vaccine has been approved caused a sharp decline in gold prices in international markets. The spot gold price, which fell below the level of 2 thousand dollars / ounce yesterday, fell below the level of 1,900 dollars / ounce in the early hours of this morning.
With the impact of the announcement that the USA reached an agreement with Moderna to purchase 100 million doses of vaccine, it decreased by 2.5 percent compared to yesterday and fell to the level of 1,863.04 dollars/ounce.
Gram gold decreased to 432 lira
The Turkish gold market is also experiencing the impact of sharp declines in both spot gold and dollar/TL exchange rates. Gram gold, which rose to 484 liras, was withdrawn to 432 liras this morning.
Silver prices are also falling
A sharper decline than that of gold is observed in the price of silver. The silver price reached $23.42/ounce this morning, decreasing by 4.9 percent compared to yesterday.
Gold has lost 8.3 percent and silver 16.29 percent since the beginning of the week.
Source: https://www.dunya.com/finans/haberler/altin-fiyatlarinda-sert-dusus-suruyor-haberi-477621
