As COVID-19 cases continue to spike around the US and questions persist about the timeline of a potential vaccine, investors remain uncertain. prices of over $2,000 per ounce this week — are seeing a boost in value.
"Loose monetary and fiscal policies around the world have been supportive to most mined commodities," Bank of America Commodity Strategist Michael Widmer said in the note. "With the US elections scheduled for November and the EU's Recovery Fund in place from January 2021, we expect demand to be supportive next year, even though the pandemic continues to be an immense risk."
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