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The recovery of most global markets and the rise in gold futures contracts: 10-11-2020

News Date: 10/11/2020 09:23:45

Most of the global markets rebounded on Monday, right after the opening of the weekly trading session, after Democrat Joe Biden won the US presidential elections, and both stocks and commodities rebounded. An American company called Pfizer has admitted that it will undertake the task of launching an effective vaccine to eradicate the virus, and the Fires vaccine had an impact on the recovery of US stock indices, as we will see.


In Brazil, the Health Regulatory Authority said yesterday that it had suspended clinical trials of the Chinese Sinovac vaccine to prevent the Corona virus, but the vaccine found controversy in Brazil after President Jair Bolsonaro rejected it, considering that it lacks credibility.


Futures contracts for gold rose in today’s trading, after gold prices fell yesterday by about 5%, as the announcement of the results of the Corona virus vaccine trials led to heavy sales of the yellow metal, as it is the only safe haven for investors, so they chopped up valuable assets and quickly headed towards stocks. By 3 :34 am GMT, gold futures contracts rose to 1.09%, trading at $ 1,874.2 an ounce.


The US stock indices achieved a noticeable rise yesterday, as the Dow Jones index reached 1,284 points, or 4.60%, to achieve huge gains, while the Standard and Poor’s index rose by 2.90%, while the Nasdaq index had the weakest performance.

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