Coronavirus vaccines began rolling out this week, boosting optimism that the economy will soon rebound. But as Peter Schiff said in a podcast last month, there is no vaccine for what ails the economy. Even if the vaccine proves effective and governments ease off the draconian policies they have implemented in response to the pandemic, governments and central banks will have to continue stimulus programs and loose monetary policies. That’s good for gold.
Commerzbank sees things the same way, projecting gold’s bull run will continue through 2021 with the yellow metal rising to $2,300 by Q4.