One of the first prominently noticed effects of the COVID-19 pandemic wasn’t the infection itself, but the way it altered people’s shopping habits. The first few weeks following the outbreak were defined by the general public panic-buying products at supermarkets and stores across the country. However this trend was short-lived as people realized supplies were still plentiful in the age of Coronavirus.
Investors continue their gold buying sprees to maximize their gains as COVID-19 tanks almost all other markets. In the last three months alone, gold-backed ETFs saw a growth of a record-breaking $23 billion across all regions, according to the World Gold Council.
The spread of COVID-19 has caused rapid shifts in the popularity of online marketplaces, particularly ones on social media. Facebook marketplaces have been used by millions of people across the world to sell their original products and/or second-hand items.
It’s been a rough couple of days for the stock market and investors because the economy has been absolutely clobbered by the coronavirus pandemic. To mitigate the effects of COVID-19 on the economy, the government has responded by signing off a stimulus package, one that could net you a check of between $1200 to $2400.
COVID-19 has ravaged the world economy and has many experts predicting a bad recession that could take years for the world to recover from. The biggest problem with this pandemic is the sheer difficulty of testing patients who normally stay asymptomatic until 14 days before developing serious symptoms, and by then, the damage is already done.
The Australian psyche holds a special place for gold. During the early 1850s, the gold rush helped in propelling the country’s economy, grow its population, and stimulate the industries. As the second biggest producer of gold in the world, the country’s gold sector flourished. Its record gold prices and mine production speak for themselves. After all, gold remains the country’s third major commodity export.
The last few months have seen the price of gold rally to $1,600 — a height it has not reached since March 2013. However, the last few weeks have seen the price start to stagnate. Between January 20 and February 4, the price did not manage to cross the $1,600 barrier, bouncing off at around $1,590. As of February 5, it had hit a two-week low of $1,547.