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.