Golden Scout - Gold Moves Down as Risk Gains Traction

Gold was down on Wednesday morning in Asia as investor risk appetite grows on vaccine hopes and turning away from safe-haven assets.

Gold futures edged down 0.17% at $1,801.55 by 12:35 a.m. (ET).

Gold has continued down as stocks boom, with global stocks reaching a record high, the U.S. Dow Jones Industrial Average has broken through the 30,000 mark, a new high. Investors are turning away from risk-averse assets as vaccine developments give confidence to economic outlooks across the globe. Safe-haven assets, such as gold, are being pushed down consequently.

Gold has fallen through the $1,800 mark for the first time since July.

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