2020 Coin and Bullion News
In 2020, the world was affected by the COVID-19 pandemic, which had a significant impact on the economy and financial markets.
At the start of the pandemic, there was a strong decline for the demand for gold as investors sold off their the majority of their assets to cover losses they had made. This led to a temporary drop in gold prices but as the pandemic surged on, the economic consequences of the pandemic became clearer, therefore there was a resurgence in demand for gold. This led to an increase in the price of gold, with the metal reaching all-time highs in some markets.
The COVID-19 pandemic also had a significant impact on the production and supply of gold. Many mines were forced to shut down or reduce operations due to lockdowns and travel restrictions, leading to a decline in the supply of gold. This, combined with the increase in demand, contributed to the rise in gold prices.
