The stock market took a huge hit when the COVID-19 pandemic ramped up in March 2020.
Between March 4 and March 11, the S&P 500 tanked 12% into a bear market.
On March 12, the index fell another 9.5%. It was the biggest one-day decline since 1987.
Stocks and commodities were slammed across the market.
In the weeks that followed the crash, one thing rose farther and faster than anything else: gold.
Between March 22 and March 23, 2020, the price of June Comex gold futures rose from $1,567 to $1,660 — a 6% jump in one day.
By August, gold surpassed $2,000.
But equity prices started to rise. Investors moved out of their hedge positions and back into stocks. The price of gold sank again.
In this episode of The Bull & The Bear, we examine gold’s journey since March 2020, and where it might be heading next.
Be sure to also subscribe to our YouTube channel for more videos like my weekly Marijuana Market Update.
Have something you want us to talk about? Email firstname.lastname@example.org and give us your thoughts.
Check out moneyandmarkets.com, and sign up for our free newsletters that deliver you the most important and unbiased financial news, commentary, and actionable advice.
Also, follow us on: