Gold posts biggest quarterly gain since 2016 on virus woes
“Bullion has been rising due to a resurgence in virus infections, with new hot spots emerging and the World Health Organization warning that the worst of the pandemic is still to come because of a lack of global solidarity. More U.S. areas took steps to scale back reopenings, while Australia’s Victoria is imposing a four-week lockdown in some parts of the metropolis of Melbourne in an attempt to contain a spike in cases.”
USAGOLD note: At just over 30%, the 2020 second quarter’s gain from the same quarter one year ago is actually the best since 2011, according to data generated at the St. Louis Federal Reserve’s web site.
Gold Annual Returns
(Change from one year ago same quarter)
Sources: ICE Benchmark Administration, St. Louis Federal Reserve [FRED]