Modern governments have a tendency to make precisely the same mistakes with regard to currencies.
COVID-19 continues to generate uncertainty however as more countries begin easing their lockdowns and undertake monitoring for a potential wave of secondary outbreaks.
One of gold’s biggest catalysts throughout history has been inflation. Debase your currency enough and gold responds almost automatically. And the bigger the inflation, the bigger gold’s response. Even the fear of inflation ignites the gold price, like we saw from 2009 to 2011.