"Also, what's caused the recent spike in the gold price if wasn't the virus?"
Skol, you've said yourself that fiat currencies are designed to decline in value over time. That is true and is in fact what most people want (excluding gold-bugs of course). Recently central banks have been creating a lot more new currency than usual and more people are becoming concerned that the rate of decline in fiat currencies will accelerate.
So it wasn't the virus, it was Governments response to the virus. Even if the virus is cured tomorrow the long-term impact of the response to the virus will still be there.
