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Bloomberg
Gold fell to a four-month low as growing optimism over a coronavirus vaccine and signs of a increasing momentum in US economic growth stifled demand for the metal as a haven.
Bullion extended last week’s loss after AstraZeneca Plc said its vaccine prevented most people from developing Covid-19, marking another promising development in the quest to end the pandemic.
US business activity powered ahead in November at
the fastest pace since March 2015, IHS Markit figures showed. The dollar erased losses after the report.
Spot gold declined 1.8% to $1,837.60 an ounce at 2:27 pm in New York after touching the lowest since July 21. Silver and platinum also fell, while palladium rose.