Unfortunately if you look at the gold price pre covid gold was on a downward trend.
August 2019 gold was around 1559 ounce and fell to 1450 in Dec 2019
The world was already in recession.
Gold gained about 16 percent this year due to the covid, You could say Covid has countered the the recessionary effect on the gold price. Unfortunately this is unlike 2008 because the US stimulus will likely be ineffective in the US and act more as a band-aid solution and rather than a stimulus.
A US stimulus to have the same inflationary effect as the 2008 stimulus would have to be more than a survival payment. One trillion is only 12 weeks of survival payment in the US. It will take the US about 12 months and a lot of military muscle to beat the virus.
short term gold crash, page-5
-
- There are more pages in this discussion • 238 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add RMS (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.94 |
Change
0.075(4.02%) |
Mkt cap ! $2.220B | |||
| Open | High | Low | Value | Volume |
| $1.90 | $1.94 | $1.88 | $6.442M | 3.348M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 13041 | $1.93 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.94 | 44693 | 3 |
View Market Depth
| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| RMS (ASX) Chart |