The Coronavirus pandemic has hit people all across the world really hard. It has caused economies to collapse and high rates of unemployment. Then there is the added fear of contracting the virus and keeping yourself safe, even if that means losing your job.
Many experts are speculating what the after-effects of COVID-19 will be on the economy. This is the first major crisis that has occupied the minds of business and political leaders in a very long time. As a result, we can use this event to craft a response to future crises that will impact financial markets.
Gold is seemingly invincible even in crashing markets when all stocks and bonds are in freefall. When inflation is the key threat to your portfolio and once again, it is gold that meets and surpasses inflation. In the long term, gold provides a high return on investment that can be compared to the most lucrative asset classes, but without their risks and volatility.
The increase in demand for gold investments was driven primarily by the coronavirus pandemic since gold is seen as an effective and reliable hedge in economic stress. Gold has emerged as a safe haven for investment while stocks and bonds plunge at alarming rates. Global holdings of gold-backed ETFs have reached a record level of 3,180 tonnes as a consequence of this surge in demand.
Gold is considered unique in the investment world due to its high demand. It is used for reserve assets, investments, and as a luxury good. However, gold can also be used as a hedge that can compete with other commonly used hedges.
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 brought many industries worldwide to a standstill. Experts believe that the pandemic is going to lead to a global recession, one that is much larger than the one we experienced in 2008.
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