Golden march: An employee stacks gold bars in a safety deposit box in the precious metals vault at Pro Aurum KG in Munich, Germany. The price of gold continues its march toward a record on expectations there’ll be more stimulus to help the global economy recover from the coronavirus pandemic. — Bloomberg
NEW YORK: It’s easy to forget now but there was a time early on in the pandemic when the price of gold was in free fall.
It was a curious thing, what with the virus sparking a collapse in the global economy, and it would prove in time to be one of the great head-fakes in the recent history of financial markets. For the pandemic of 2020 would soon show itself to be the driving force behind one of the most ferocious rallies the gold market has ever seen.
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