RE:Financial stock markets price levels are on Steroids!There will be interim pain for gold as things rebalance. Thing with the vacine is that people are betting that over the next year (while the vacines in the works), the Fed will prevent most bankruptcy claims by continuing to BRRRRRRRRR. I think this means there's more faith in common equities despite the very real short term risk which is a short term bearish trend for gold.
I dont think there's a reason the long term bull trend would break though. Debt continues to stockpile -> interest rates drop -> inflation continues -> all to help service the debt -> which puts the real interest rate below 0 -> good for gold. Yada yada.
The economic risk factors havent changed - only investor optomisism. Hopefully everyone invests accordingly :)