Gold Price Plummets $100, Can It Go Lower? Pfizer, Travel Stocks Soar, Zoom Tanks
Gold price dropped $100, or 4.5% on Monday as Pfizer announced that its COVID-19 vaccine is 90% effective. The S&P 500 climbed 2.9%, the Dow is up 3.8%, and the NASDAQ is up only 1%, dragged down by companies that benefit from the work from home culture, like Zoom (-12%) and Netflix (-4%).
Peter Hug, global trading director of Kitco Metals, said that these moves factor in expectations that are a bit ‘premature’.
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