You would think that at times like this ......that it would have gone through the roof . What gives ?
Easy. The reason is that the COVID 19 virus is shutting down the economy, causing companies and corporations to have trouble paying their regular bills, since they are not getting their usual income. What this means is that, in order to make those payments, these companies are selling their gold and silver holdings. When lots of people sell something all at the same time, it exerts a downward pressure on the price of that something. So we have pressure in two directions operating simultaneously. Firstly, economic and monetary insecurity causes there to be a desire to acquire gold and silver, which is an upward pressure on the price. Secondly, there's a downward pressure on the price from folks needing to sell their holdings in order to pay their bills, since their usual sources of income have been cut off or dramatically reduced (think restaurants, resorts, nightclubs, and on down the line).
The upward pressure is overtaking the downward pressure, but only slightly. Once COVID 19 is gone, the need to sell gold and silver will fade as an influence on the price.
