Gold Rush - the gold price rally
Gold prices are on the rise. Within last 3 months the prices of gold have risen by more than 25%.
Covid has led to uncertainty among markets and investors are parking their money in Gold. On the contrary the stock markets are also having a dream run. This is unlike we have ever seen before. Gold prices briefly touched $2200 per ounce before being pulled down by stronger dollar. Covid has taken a huge toll on global economy and public health. More than 18 million people have been infected with Covid and 690,000 people have died according to the covid dashboard put together by John hopkins university. Gold prices continue to hold above $1800/ ounce despite fluctuating dollar. In times of uncertainty investors become wary of stock markets and generally invest their money in Gold but the recent trends seem to indicate otherwise.
This situation is nothing like markets have seen before so the market is behaving in an unpredictable manner. Only in hindsight we shall be able to make sense out of these events. Till then enjoy the ride!
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