RING - Gold and silver sink copper climbs as vaccine news lifts risk appetite

Gold prices plunge on news that Pfizer's vaccine was 90% effective in preventing COVID-19 based on initial trial data, as investors pile into risky asset classes and cyclical stocks that are highly correlated with the global economy.December Comex gold -4% to $1,872/oz., erasing gains to a near eight-week peak at $1,965/oz. earlier in the session, which was driven by a weak dollar and hopes for more stimulus following Joe Biden's victory in the U.S. elections.Silver (XAGUSD:CUR) joins gold's slide, -5.6% to $24.21/oz., but London Metal Exchange copper (HG1:COM) +1.4% to $7,045/ton, its highest since June 2018, while nickel (LN1:COM), iron ore (SCO:COM) and aluminum (LMAHDS03:COM) are all surging.Precious metals miners fall sharply pre-market, [[KGC]] -4.6%, [[AEM]] , [[GOLD]] -3.9%, [[MUX]] -2.8%, [[CDE]] -5%, [[AG]] -3.2%, [[HL]] -6.1%.But industrial metals miners and steel producers are poised for big gains: [[FCX]] +4.6% [[X]] +6.6%, [[CLF]] +5.3%, [[AA]] +6.6%, [[TECK]] +7.9%."There is definitely

For further details see:

Gold and silver sink, copper climbs as vaccine news lifts risk appetite