by Jeff Clark
A vaccine for Covid-19 is on the way, so gold investors should probably pack it in, right? After all, a valid and distributable vaccine will likely create euphoria, and push the stock market up and gold down. The economy will recover, maybe even roar, and with it fear of the pandemic will disappear and leave little need to own gold and silver.
At least that’s the consensus view among many mainstream outlets. We know this because the kneejerk reaction to Pfizer’s vaccine announcement on November 9 caused the Dow to soar 3% and gold to fall 4%, with silver crashing 6.2%.
Last week Pfizer and Moderna reported their vaccines are now roughly 95% effective, with Pfizer and BioNTech announcing plans today to file for authorization for emergency use, which would allow them to have their vaccine used in the US starting next month. The former FDA commissioner even claimed the pandemic can “effectively end” with a wide distribution of a vaccine at this level of efficacy.