Gold Price Forecast After Covid 19

Gold serves a purpose.

Gold price forecast after covid 19. Gold fell more than 1 5 per cent on friday after. Instead it shot up in february amid mounting worries about the covid 19 pandemic. Silver bid gold silver ratio breaks down.

By contrast the 3 percent drop in gold prices seen on sept. Decline monday morning on news of a potential covid 19 vaccine. Behind higher gold prices should linger even after a vaccine is distributed so the yellow metal s.

With its terrible human casualties comes a nasty financial side effect. Through mid february gold continued in its slow burn bull market driven by two main factors. Despite being the archetypal safe haven asset gold like everything else eventually took a hit to the downside on the realization that covid 19 would become a global pandemic.

2021 01 30 19 00 00 gold silver price forecast. The us stock market has just witnessed its worst weekly decline 11 since the crash of 2008. The rapid spread of the coronavirus radically accommodative response of the fed including slashing interest rates to almost zero the implementation of economic lockdowns and deep economic crisis pushed gold prices quickly to above 1 700.

Fire sales of gold have seemingly given way to safe haven buying following unprecedented intervention by the federal reserve. Is gold at risk from a us dollar turning point. Regardless of how investors diversify their portfolio the covid 19 pandemic has made it clear gold serves a purpose.

After getting caught up in a massive equity selloff earlier in march gold prices are now seeing a bounce up amid surging demand for the precious metals driven by the covid 19 panic. After the fall time to shine. After a short correction at the end of the month probably due to the initial stock market crash the price of.