The gold market enjoyed a robust 2020. After falling to lows of $1,470/oz per ounce in March as risk-off conditions gripped markets the precious metal proceeded to move to a record $2,069/oz in August, lifted by widespread stimulus measures from central banks to help nurse the economy through the coronavirus pandemic. This unprecedented rally lost some steam and the precious metal bottomed around $1,850/oz in December after a series of vaccine breakthroughs fuelled hopes of a sharp economic recovery in 2021. Despite a downward correction from those record levels, the precious metal is still up more than 20% year-to-date.
