Analysis of Gold for July 31, 2020

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US strikes $2.1 billion coronavirus vaccine deal with Sanofi, GlaxoSmithKline

The deal will see the firms provide the US government with 100 million doses of the corona virus vaccine, with the US to provide up to $2.1 billion for development, clinical trials, manufacturing and the delivery of the initial batch of doses.

The US will also have a further option for a supply of additional 500 million doses of the vaccine in the longer-term. GSK adds that if study data are positive, the companies can request US regulatory approval some time in 1H 2021.

To put a bit of a timeline on things, phase 1/2 of the study is expected to start in September with Phase 3 set to be conducted by the end of the year.

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1-Day relative strength performance by Finviz

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The material has been provided by InstaForex Company – www.instaforex.com

Source:: Analysis of Gold for July 31,.2020 – Intraday potential rotation to the downside due to resistance on the test

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