Gold Flat As Concerns Over Rising Virus Cases Offset Vaccine Optimism
Gold prices were little changed on Tuesday, as concerns over spiking U.S. coronavirus cases offset pressure from vaccine optimism brought about by a positive vaccine trial data.
* Spot gold was unchanged at $1,887.99 per ounce by 0050 GMT, while U.S. gold futures were up 0.1% at $1,888.70.
* Forty U.S. states have reported record increases in COVID-19 cases in November, while 20 have seen a record rise in deaths and 26 reported record hospitalizations, according to a Reuters tally of public health data.
* The euro zone is facing a drawn-out recovery from a deep recession and needs more support from both the European Central Bank and governments, several policymakers said on Monday.
* Speculators cut their net long position by 10,995 contracts to 110,957 on COMEX gold in week to Nov. 10, he U.S. Commodity Futures Trading Commission (CFTC) said on Monday.
* Silver fell 0.1% to $24.74 per ounce. Platinum was flat at 925.50, while palladium fell 0.4% to $2,323.30.
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