Gold Up, with anaphylaxis warnings tempering the COVID-19 vaccination craze

© Reuters.

From Gina Lee – Gold was up in Asia on Thursday morning. Wednesday’s optimism about a COVID-19 vaccine was tempered by a warning that patients with a history of anaphylaxis should not be vaccinated against any drug or food.

up 0.30% to $ 1,844 by 12:22 p.m. ET (4:22 p.m. GMT). Prices stayed above the $ 1,800 mark as investors turned to the yellow safe haven metal.

The warning came from the UK Medicines and Health Products Regulator (MHRA), which has issued temporary emergency approval Pfizer (NYSE 🙂 and BioNTechs (F 🙂 BNT162b2 vaccine last week.

The UK has already vaccinated its first patients, and Health Canada approved the sting on Wednesday. The U.S. Food and Drug Administration (FDA) will meet later that day to discuss the vaccine. Distribution could begin within 24 hours if the FDA grants emergency clearance during the meeting, said Alex Azar, secretary for health and human services.

In the meantime, both the US and UK are battling against the clock over their latest stimulus measures and the Brexit talks. Negotiations in Congress have been most intense since the November 3rd presidential election as Republicans and Democrats work to reach an agreement before December 11th, after which the government closes. Although both sides are preparing proposals and counter-proposals, they still have to resolve disagreements about the price tag, protective liability for companies and aid for state and local governments.

Across the Atlantic, British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen discussed the Brexit trade talks on Wednesday over an “open” and “lively” dinner. However, the two heads of state and government have postponed a “firm decision” on the future of Brexit trade talks until Sunday, with the two sides “far apart” on the trade deal. Talks will start again later in the day to meet the year-end deal deadline.

The European Central Bank will meet later in the day for its final political meeting in 2020, which is widely expected to launch a reinforced and expanded pandemic bond-buying program. The Federal Reserve will have its own political meeting later that day.

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