So what's the point of this post? Understand this: Yes, gold prices have surged higher in 2020 and some of this is due to a fear-based trade over the growing concerns of a coronavirus global pandemic. But prices were already headed higher before the emergence of the virus, and the interest rate driver of this move has only accelerated over the past few weeks. Just as in 2019, Powell's Fed has been painted into a corner. They will soon act to cut rates and add liquidity, and this will help to provide for a consistent bid for gold in all its forms...which will lead to consistently higher prices as 2020 unfolds.
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