Stock Futures – PRECIOUS-Gold falls on hopes for vaccine, clean Biden transition

 (Updates costs)
    * Gold's break under $1,840/oz points to additional draw back
-analyst
    * European shares set to realize on vaccine optimism
    * Interactive graphic monitoring international unfold of coronavirus:
open
    * tmsnrt.rs/3aIRuz7 in an exterior browser

    By Nakul Iyer
    Nov 24 (Reuters) - Gold hit a four-month low on Tuesday as
traders abandoned the safe-haven metallic following a U.S. federal
company's transition approval for Joe Biden and rising prospects
for the swift launch of a reasonable COVID-19 vaccine. 
    Spot gold        fell 0.2% to $1,831.90 per ounce by 717
GMT, having earlier slid to its lowest since July 21 at
$1,820.45. It slumped as a lot as 2.2% on Monday. 
    U.S. gold futures        have been down 0.6% to $1,826.30.
    "Traders are clearly rallying across the narrative of a
vaccine-fuelled financial reopening, to the purpose they're keen
to look previous the financial realities and potential draw back dangers
that may lie forward," stated FXTM market analyst Han Tan.
    European stock futures rose, extending optimism in Asian
equities spurred by information AstraZeneca's         COVID-19 vaccine
could possibly be as much as 90% efficient.                           
    In one other enhance to threat sentiment, U.S. president-elect
Biden acquired the transition go-ahead on Monday. On Twitter,
President Donald Trump stated he was recommending that his group
"do what must be finished with regard to preliminary protocols".
                         
     "The truth that now we have a smoother transition between
President-elect Biden and Trump is simply another excuse to suppose
that the restoration as it's at present taking part in out has one much less
threat to it," stated IG Markets analyst Kyle Rodda.
    The breakdown of assist round $1,840 suggests additional
draw back into the $1,700s earlier than consumers return, he added. 
    However analysts famous the probably appointment of former Federal
Reserve chair Janet Yellen as U.S. Treasury Secretary might
enhance bets for additional fiscal and financial stimulus and profit
bullion.                          
    Gold is taken into account a hedge towards inflation and forex
debasement, more likely to outcome from the unprecedented stimulus
unleashed globally this yr to ease the pandemic's financial
blow.       
    Silver        fell 0.4% to $23.48 an oz. Platinum       
rose 0.9% to $934.73, whereas palladium        dropped 0.7% to
$2,338.36.

 (Reporting by Nakul Iyer in Bengaluru; Enhancing by Rashmi Aich
and Subhranshu Sahu)