Pandemics - Palladium Timeline

COVID-19 Pandemic Declaration

The WHO declared COVID-19 a global pandemic as the virus spread worldwide, triggering unprecedented lockdowns and economic collapse. Central banks launched the largest monetary stimulus in history - the Fed cut rates to zero and purchased $120 billion/month in assets. Gold initially dipped during the March liquidity crisis but then exploded to an all-time high of $2,067/oz in August 2020. Silver surged 150% from its March lows. Trillions in stimulus and negative real rates made precious metals incredibly attractive.

gold

+40%5 months$2,067/oz (all-time high)

silver

+150%5 months (from March lows)$29.14/oz

platinum

+72%5 months (from March lows)From $595/oz to $1,025/oz

palladium

-31%2 months (initial crash)From $2,875/oz to $1,985/oz