Gold and Silver Updates


 (Updates costs)
    * Gold set for a 5.7% month-to-month drop
    * Silver set to fall about 6.6% for the month
    * Interactive graphic monitoring international unfold of coronavirus:
    * in an exterior browser

    By Diptendu Lahiri
    Nov 30 (Reuters) - Gold costs prolonged their slide to 5
month lows on Monday as prospects of a vaccine-led increase to the
financial system solid a shadow over safe-haven belongings and set bullion on
course for its worst month in 4 years.
    Spot gold        dipped 1% to $1,770.56 per ounce by 1337
GMT, and was down 5.7% up to now this month. The steel additionally hit its
lowest stage since July 2 at $1,764.29 earlier within the session.  
    U.S. gold futures        dropped 0.9% to $1,771.20 per
    "The information of vaccines has led to a number of optimism within the
market and we're seeing some outflows in safe-haven belongings like
the greenback, Treasuries and the identical is being mirrored in gold
costs," stated OANDA analyst Craig Erlam.
    Gold costs fell regardless of the greenback hitting its lowest stage
in two and a half years.                                 
    Bullion has declined greater than $300 an oz from a document
excessive of $2,072.50 an oz hit in August.
    "The short-term development for bullion has been compromised by
the worth falling via the help stage at $1,850,"
ActivTrades' chief analyst Carlo Alberto De Casa stated in a notice.
    "Traders have moved to different belongings, in search of quicker positive factors,
though they have not forgotten that central banks might be
compelled to print cash for a few years to assist the financial system to
get well from the Covid-19 disaster."
    Optimism round vaccine-induced financial restoration has put
world shares on monitor for his or her finest month on document.
    Knowledge confirmed China's manufacturing facility exercise expanded on the quickest
tempo in additional than three years in November, additionally aiding threat
    Traders are actually seeking to congressional testimony by U.S.
Federal Reserve Chairman Jerome Powell this week.
    Silver        fell 2.6% to $22.10 an oz, recovering some
floor after dropping as a lot as 3.6% earlier within the session.
The steel was on monitor for a month-to-month decline of about 6.6%.
    Platinum        rose 1.2% to $975, whereas palladium       
slipped 1.2% to $2,397 per ounce. 

 (Reporting by Diptendu Lahiri in Bengaluru; modifying by Carmel
Crimmins, Kirsten Donovan 


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