Hurray! The disastrous year of 2020, which brought about the COVID-19 pandemic, the Great Lockdown, and the economic crisis, is over! Now, the question is what will 2021 be like – both for the U.S. economy and the gold market. To provide an answer, below I analyze the most important economic trends for the next year and their implications for the yellow metal. Society gains herd immunity by vaccination and the health crisis is overcome. With herd immunity approaching, the social fabric returns to normality, and the economy recovers. The vaccine rollout increases the risk appetite, reducing the safe-haven demand for ... (full story)