While positive news on the vaccine front from pharmaceutical firms Pfizer and Moderna created one of the best opportunities to buy of the decade last week, that window is closing as reality sets back in to the markets; meaning now is the time to move quickly to buy.
Despite hopes that vaccines will be deployed in spring there is still a tough winter to get through. Case loads continue to soar to record highs, with a 79% increase in the USA in the last 14 days and the WHO categorising outbreaks in Europe and America as very worrying. This appears to have brought Wall Street back down to earth with a bump, as news of more and more states imposing new restrictions break and global stock markets endure another mixed day of trading.
In addition to the fast ebbing of risk appetite, the falling US dollar, soaring household debt and poor retail reports have all compounded the sense that we’re not out of the pandemic woods yet and won’t be for some time. This all favours gold reigniting its runaway price performance and it is trading 0.9% higher this morning (Wednesday). Don’t miss this opportunity to buy – act now before the dip becomes a peak once again.