Gold was down on Tuesday morning in Asia as more vaccine good news arrives and U.S. business activity rises at the quickest rate in five years. The U.S. dollar and risk-on activity are drawing investor interest away from the safe-haven metal.
Gold futures were down 0.90% at $1,821.25 by 12:56 a.m. (ET).
The news that at least one vaccine, and possibly three, will be rolled out before Christmas. The U.S. has said that it will likely start vaccinations using the Pfizer Inc (NYSE:PFE) vaccine on around Dec. 12, while both Moderna Inc (NASDAQ:MRNA) and AstraZeneca's (LON:AZN) candidates are expected to be approved by various governments in the near future.
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