In 2020, the Coronavirus crisis (COVID-19 pandemic) grips the nations around the globe and mounting economic damages have turned 2020 into the worst year ever. But the price of Gold has sharply increased by more than 30% in 2020.  Gold prices have surged in the wake of the COVID-19 pandemic as investors look for safer places to store their money. 

On August 4th, 2020, Gold's price climbed its highest level above $2000 ($2021 per ounce) for the first time in history. The last time Gold price hit a record high was at $1,917.90 on August 22, 2011.   Market data show silver, platinum and palladium also have their strong gains in value.   Historically, Gold price in Dollars has now risen by 325% over the last 15 years. According to statistics data, the increase in gold price far outpaced inflation, during the last decade.  Even though there were occasional drops in gold prices, it always tends to recover after a few days or weeks.   Gold usually climbs to new highs, especially if equities remain depressed.




Recent rise in gold price was due to:
  (1) Low US interest rates, a weaker dollar, and tension between the United States and China.
  (2) Rising inflation and soaring national debt also contribute to the rise of gold price.
  (3) Some traders and some countries worried about inability to set a gold contract in the market.
  (4) Individuals worried about getting their hands on physical gold which promises better security than paper gold. 
  (5) Fading hopes of a quick U.S. economic recovery due to continuous spread of virus and stretched equity valuations. 
  (6) Coronavirus fears cause unprecedented demand for gold because economic uncertainty will continue until a vaccine is widely available and pandemic is fully contained. 
These drive more people to buy gold to find a safe-haven during uncertain times.     "As long as uncertainty continues, gold prices could keep rising", analysts said.   

Sources:  Federal Reserve,   NBER,   World Bank,   WSJ,   NYSE,   Bloomberg,   Forbes,   Fox Business,   Yahoo Finance,   Reuters,   goldprice,   Kitco  


The country's economy has been ravaged by the ongoing Coronavirus outbreak in 2020. On June 8, 2020, NBER (The National Bureau of Economic Research) declared that The United States is in a recession, ending the longest period of uninterrupted growth in US history dating back to 1854.

Back in March, 2020, the Federal Government pumped a $2.3 Trillion stimulus fund into the U.S. economy and also cut interest rates to zero in order to help keep the economy afloat and to prevent financial markets from freezing up. "What's driving markets right now is Fed action," chief investment executive at Morgan Stanley Wealth Management said.

Federal Government stimulus fund programs include Payroll Protection loans to small businesses, billions of lending options and equity loans to States, Credit, Securities and Municipal Facilities, buying corporate bonds and stimulus checks for individuals.   This unprecedented action from the Fed is a major boost for businesses and a powerful support for flailing economy. 

But on the other hand, putting such an enormous amount of money in the system creates more government debt, and over time, it increases inflation and weakens the value of the dollar. According to Peter Schiff, CEO and Chief global strategist of Euro Pacific Capital Inc.,  "The extreme measures taken by the U.S. government and the Federal Reserve to combat the COVID-19 pandemic could push the U.S. into an episode of hyperinflation and boost gold." The precious metal's price should be up "a lot more" and Gold to hit $5,000 minimum, Schiff says.   

 CEO Peter Schiff
Peter Schiff, CEO & Investor
 Economy and Inflation
Economy & Inflation
 CEO Warren Buffett
Warren Buffett, CEO & Investor


And so more and more floods of cash into the gold funds start to flow.  A record hit inflow of $40 billion of gold into Gold E.T.F. arrived in the first half of the 2020, the World Gold Council said. Nearly $30 billion of the U.S. Investor's money made the biggest portion of inflow into Gold funds E.T.F investment. And a frenzy of investment in gold drove up gold price higher and higher. Analysts call it a "Modern days gold rush".

"Gold is a way of going long on fear," Warren Buffett, CEO of The Berkshire Hathaway and renowned investor once said. In August, 2020, his holding company Berkshire Hathaway Inc. changed the course and purchased 20.9 million shares in Canadian mining company Barrick Gold Corp (one of the world's largest gold producers), in a transaction worth around US$500 million at the end of the second quarter.

Sources:  Federal Reserve,   NBER,   World Bank,   WSJ,   NYSE,   Bloomberg,   Forbes,   Fox Business,   Yahoo Finance,   Reuters,   goldprice,   Kitco  


(1) Gold is a reliable store of value.
(2) Gold is globally-recognized, accepted and traded.
(3) Gold has been a purchasing power for thousands of years.
(4) It's rare and in limited supply, you can't keep making it.
(5) It doesn't change value as much, for example, as currency.
(6) It is a lot more durable than investing in food or something perishable.
(7) Gold is a hedge against inflation caused by the mounting debt and rising costs.
(8) Gold outperforms most stock, including high-flying technology stocks, bond, equities, and commodity markets.
(9) Gold is a common investment around the world and people see gold as something prestige with intrinsic value.
(10) Gold also is attractive liquid asset because it is easy to buy and sell.

   All of these bring more glitter to the reputation of this shiny, yellow bright precious metals than ever. And so, people want Gold, and  it creates a market in itself. 

 Gold Bars, Pure gold
Gold Bars, Pure gold
 Gold is a purchasing power for thousands of years
Gold, a store of value
 Gold coins
Gold coins, US Mint


Moreover, people will continue to put their money in gold because, Gold is always in "High Demand" in the market due to its Monetary Value, incredible malleability, base metals for use in jewelry, industrial usage such as electrical connectors in computers and other electrical devices, uses of gold in Aerospace and Dentistry.


Gold is always there for anyone including  investors, governments, organizations and even criminals to serves as a form of insurance against adverse economic events.


"Gold is the clear beneficiary of safe haven demand," a chief global markets strategist said. Truly, gold is a Safe Haven assets because it has proven to perform well during prolong financial crisis and retains or increases its value during times of market turbulence. That is why Investors are diversifying their portfolio by purchasing gold in times of market volatility.


Sources:  Federal Reserve,   NBER,   World Bank,   WSJ,   NYSE,   Bloomberg,   Forbes,   Fox Business,   Yahoo Finance,   Reuters,   goldprice,   Kitco  


Many Investors find gold as a "safe haven" as gold stay strong as monetary value in the financial market.
  Nowadays, people are investing in Gold and so why don't you?   


Gold can be purchased from precious metals dealers in the form of bars or coins. The American Eagle Gold coins are starting points for investors to own small amounts of gold. Investing in Gold is the best option because Gold retains its value so well while currency, stocks and bonds decline. As when Gold is universally accepted, it can be used to preserve your purchasing power from devaluing dollar. It is time to protect your wealth or secure your retirement. You can start your precious metals investment from one of these investment options as follows:

(1) You can purchase Gold or Silver directly with cash, in the form of bar or coin from precious metals dealer (or)
(2) Transfer your existing traditional IRA or 401k retirement savings into Precious Metals IRA Account backed by physical gold and silver.


Priority Gold is America's Trusted Precious Metals Dealer with A+ Rating, AAA Rating with and 5 Stars Rating with . We are located in the business district of Los Angeles, California.

We offer a wide range of gold & silver coins, gold & silver bars and certified graded coins that meet the standards set by the IRS and your needs. Gold show up on time and product is delivered to your door. FREE Storage for first 3 years is offered on qualifying Gold & Silver IRA Account.

We remain grateful for the opportunity to help customers meet their important financial objectives. Our team is committed to excellent customer service and helps to streamline their precious metals purchases at a fair price.

If you want to learn more, please contact us via phone, email or online form below.

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