April 29, 2020

US GDP(Gross Domestic Product) declined 4.8% annualized in the first quarter of 2020,  ending a 6-year run of positive growth.  The decline is likely to get much worse and will likely shatter 2008’s decline of 8.4% when Q2 numbers are released.  The Fed just announced it would keep interest rates near zero indefinitely to help combat the financial effects of this pandemic. Gold remains relatively unscathed by either the decline in GDP or the Fed minutes just released,  and is currently trading at $1705.