Gold Investors Might Soon See A Price Of $2,500 Per Ounce

Gold last traded at $1,856 an ounce. Silver at $23.66 an ounce.

NEWS SUMMARY: Precious metal prices fell Monday on profit-taking amid encouraging Covid-19 vaccine news. U.S. stocks soared to record levels as investors cheered trial data from drugmakers Pfizer and BioNTech indicating their Covid-19 vaccine is more than 90% effective.

Seeking Alpha---"$10,000 invested in physical gold at the beginning of 2018 would have been worth about $15,000 now....Now, we are in a very favorable situation for the yellow shiny metal since the low interest rates are near zero. What is more, the Fed is planning to hold them near zero through 2022 to help the economy recover from the pandemic. Also, the Fed will still keep buying bonds, thus flooding the financial system with cheap money. This alone is bullish for gold....The US stimulus bill looks like a major hurdle for gold prices. But, in my opinion, it will eventually get passed...The size of this package is still unclear but could probably be over $2 trillion. This money will not come out of nowhere. The Fed will have to do more bond-buying, thus devaluing the dollar. This environment is highly bullish for the yellow metal. What is more, there is election uncertainty, which is also an extremely bullish factor for safe havens....E.B. Tucker, who correctly predicted gold would hit an all-time high this year, expects gold price to hit $2,500 per ounce by year-end."