Gold Price and the Covid-19 Vaccine!

Discussion in 'Bullion Investing' started by fretboard, Nov 23, 2020.

  1. fretboard

    fretboard Defender of Old Coinage!

    Well if you pay attention to the news, a vaccine by Pfizer is gonna be ready very soon! By some estimates some experts say shots will be available by the end of 2021, some say sooner! Let's say it does come out soon! What affect will that have on the price of Gold? Do you think the price of Gold has been strong specifically because of Covid-19? Do you think once the vaccine is available the price of Gold will drop like a hot potato? :D Do you think the time to sell is right now? No, sell mid-2021? Stop holding all PM's or you'll lose your shirt??? Any comments??
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  3. GoldFinger1969

    GoldFinger1969 Well-Known Member

    It should expand global GDP which means, combined with loose monetary and fiscal policy, it is INFLATIONARY.

    I think gold and silver go up from here.

    I also think some of the policies/appointees of the new administration will move gold well over $2,000 and silver above $30 within a few months.
    coinaline likes this.
  4. Santinidollar

    Santinidollar Supporter! Supporter

    I sold some gold about three weeks ago with the price near $1,900. This morning, gold is threatening to dip below $1,800. For my money, the question is whether this albeit brief gold rally is winding down and we’ve already seen the high.
    Etcherman likes this.
  5. -jeffB

    -jeffB Greshams LEO Supporter

    Seems like there've been a lot of sellers yesterday and this morning who disagree. I've been assuming it's a reaction to signs of approaching, um, stability...?
    Etcherman likes this.
  6. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Could be, but once the sugar high of "stability" wears off edited :D
    Last edited by a moderator: Nov 24, 2020
  7. furham

    furham Good Ole Boy

    I'm thinking the same thing. For a while anyway.
  8. CaptHenway

    CaptHenway Survivor

    The year-long run-up in gold was partly because of Covid, and partly because of the potential Constitutional crisis over the 2020 elections. Now that both problems have an end in foreseeable sight people are much happier about the future.
    LakeEffect likes this.
  9. medoraman

    medoraman Supporter! Supporter

    I tend to agree. Very bearish for pm is low oil prices and recovering demand for copper. Both produce cheap pm. I am waiting for gold to dip back down and premiums to return to normal then I will continue my slow accumulation.
  10. Mr.Q

    Mr.Q Well-Known Member

    Worry wart. I'll take the vaccine over gold, my life matters! Good luck
  11. fretboard

    fretboard Defender of Old Coinage!

    After the vaccine arrives and we are all vaccinated I think gold will still be strong. In short, I'm gonna hold as I think it's gonna go up to $2300 and higher! :D My point is Covid-19 has pumped up the price of gold some, but not as much as some believe! :smuggrin:
    GoldFinger1969 and furham like this.
  12. Gilbert

    Gilbert Part time collector Supporter

    Did C19 affect the gold price? Yes - IMO - partly due to people panicking into safe havens and partly because of the monetary stimulus provided by the central bankers.
  13. masterswimmer

    masterswimmer Well-Known Member

    Don't hold it too long waiting for 'all' to be vaccinated. I know of quite a few, many actually, more like a huge amount, like me that will never get that vaccination.
  14. fretboard

    fretboard Defender of Old Coinage!

    Yeah, I've heard of that as well. I don't understand the reasons why but it's up to you what you do and what you don't do! ;)
    Tater likes this.
  15. manny9655

    manny9655 Well-Known Member

    I think the stock market has more to do with the price of precious metals. Usually when the market goes up, metals go down, and vice versa. Did Covid have something to do with the stock market fluctuating? Yes. So indirectly, Covid did play a factor. But when the global economic reset happens in late January, that IMHO is when you will start to see a big change.
  16. GoldFinger1969

    GoldFinger1969 Well-Known Member

    If the vaccines are 95% effective, it won't matter if some holdouts say no.
    fretboard and masterswimmer like this.
  17. runninghorse1

    runninghorse1 Member

    I just bought another 5 gram gold bar from APMEX. Buy the dip. I'm holding for at least 10 years. Maybe I'll make out. Not sure.
    GoldFinger1969 likes this.
  18. masterswimmer

    masterswimmer Well-Known Member

    Precisely. I'll let everyone else guinea pig it for me.
    coinaline and slackaction1 like this.
  19. medoraman

    medoraman Supporter! Supporter

    Yes it will. If only 65 percent of the population gets inoculated, Covid will continue and will infect the rest of us.

    Vaccinations are for everyone, not just a personal choice. Enough of the population has to be inoculated for the entire population to be protected. I say prohibit any government funds or licenses to anyone who cannot prove evidence of inoculation. We need 85+ percent of the population inoculated to protect everyone. I do not want to lose my father with COPD because some people want to distrust scientists selfishly.
    GoldFinger1969 and -jeffB like this.
  20. masterswimmer

    masterswimmer Well-Known Member

    atcarroll likes this.
  21. GoldFinger1969

    GoldFinger1969 Well-Known Member

    How much of a premium to spot gold did you pay for about 1/5th of an ounce?
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