After a major correction in the gold market on Tuesday, gold prices dropped by $171.63 (CAD); the most in 7 years! But why did this happen? And will gold recover or continue to drop?
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Gold Analysis – An Opportune Crisis?
The recent Covid-19 pandemic has taken the whole world by surprise and the financial markets are beginning to feel the effects. After closing at a record high of $29,551.42 on February 12th, it opened March 30th at $21,678.22, dropping a staggering 26.6% in just over a little more than a month.
The Gold lining of Global Epidemics
The threat of a Corona virus epidemic impacts more than simply our health; the potential outbreak has led to global economic uncertainty and has put markets in disarray.
Could the Gold Standard save the economy in 2020?
Recently the unemployment rate in Canada (13.0%) and the United States (14.7%) has hit an all-time high since 1984.
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