Gold trades lower and fells by 0.1%

Gold trades lower and fells  by 0.1%

Gold prices edged lower on Wednesday due to optimism over a potential COVID-19 vaccine, but concerns over the economic impact from the resurgence of coronavirus cases in the United States limited their decline.

Spot gold fell 0.1% to $1,877.39 per ounce by 0344 GMT, while U.S. gold futures were down 0.5% at $1,875.30.

Gold shed as much as 1.3% on Monday after Moderna said its vaccine was 94.5% effective in preventing COVID-19 in a late-stage trial.