Gold bull will extend beyond coronavirus

Seeking Alpha/Clif Droke

photo of gold bullion bars“A simple glance at gold’s recent performance is sufficient evidence that the metal’s price has drastically benefited from the worries swirling around global financial markets. The gold price even threatened to go parabolic until the Feb. 25 trading session, at which time profit-taking became evident. Yet gold’s price is still at a multi-year high and shows no signs of reversing its well-established long-term upward trend anytime soon. And as recent history suggests, the gold bull market which began in October 2018 will almost certainly continue beyond the coronavirus threat.”

USAGOLD note:  Droke considers gold’s post-virus prospects . . . It had entered into a bull market, he says, long before COVID-19 made its appearance on the global stage.

Repost from 3-3-2020
New note:  The Financial Times reports this morning that, according to an expert with China’s disease control panel, coronavirus cases in Wuhan “could drop to zero by the end of the month.” He adds, “I estimate that by the end of April except for Hubei, the rest of the country can basically take off their face masks and resume normal life.”  The markets will wait for further evidence that this particular expert got it right, but this is certainly a turn for the better if true.

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