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    MRNA   US60770K1079


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Gold gains on Moderna CEO's Omicron warning

11/29/2021 | 11:44pm EST

(New throughout, adds comment and updates prices)

* Gold could rise to $1,800/oz if stocks fall more- analyst

* Fed Chairman Powell's congressional testimony in focus

Nov 30 (Reuters) - Gold prices rose on Tuesday after Moderna's chief warned that COVID-19 vaccines are unlikely to be as effective against the Omicron variant as they have been against the Delta version.

Spot gold rose 0.3% to $1,790.92 per ounce by 0728 GMT. U.S. gold futures increased 0.4% to $1,792.90.

The Moderna chief's comments rattled financial markets, with Asian shares dropping to their lowest in more than a month while crude oil futures fell over 2%.

"It is hard to say how much of an impact this will ultimately have on gold as markets are still digesting the comments," CMC Markets UK's chief market analyst Michael Hewson said, adding bullion prices could head back to the $1,800 level if equity markets decline further.

Investors will pay close attention to U.S. Federal Reserve Chairman Jerome Powell's congressional testimony later this week after he warned on Monday that the new COVID-19 strain muddied the central bank's inflation outlook and prices could continue to rise for longer than earlier thought.

"Powell has the tendency to talk markets into a state of calm and he might hint that the Fed is prepared to slow down the pace of stimulus withdrawal, providing some support to gold," DailyFX currency strategist Ilya Spivak said.

"But any rally in gold is unlikely to be sustained as we still don't know how receptive this variant will be to vaccines. So far, we have one comment from one person, albeit an important one, and the Fed needs more clarity before it commits to slowing the pace of tapering."

Reduced stimulus and interest rate hikes tend to push government bond yields up, raising the opportunity cost of gold, which pays no interest.

Spot silver fell 0.2% to $22.84 per ounce. Platinum dropped 1.4% to $949.55 and palladium gained 0.1% to $1,795.91.

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

ę Reuters 2021
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Financials (USD)
Sales 2021 17 520 M - -
Net income 2021 11 079 M - -
Net cash 2021 9 774 M - -
P/E ratio 2021 6,59x
Yield 2021 -
Capitalization 70 577 M 70 577 M -
EV / Sales 2021 3,47x
EV / Sales 2022 2,36x
Nbr of Employees 1 300
Free-Float 90,5%
Duration : Period :
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Technical analysis trends MODERNA, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 19
Last Close Price 174,07 $
Average target price 273,19 $
Spread / Average Target 56,9%
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Managers and Directors
StÚphane Bancel Chief Executive Officer & Director
Stephen Hoge President
David W. Meline Chief Financial Officer
Noubar B. Afeyan Chairman
Juan Andres Chief Technical Operations & Quality Officer
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