Gold PriceSeems like a great time to be buying EDV. EDV seems to have all their ducks on a level playing field, and it sure looks like all the markets, except the gold market ,can see that it isn't going to be all systems go for the American economy. Gold price is these days totally a function of the state of that economy, or at least the Feds thoughts about that.
Might be hard for the Fed to ignore some Covid-19-Delta facts like: that 1 in 500 Americans have now died from C19D. That only 54% of Americans have both shots, that the rate of vaccination has now dropped to just 2 million a week or so and at that rate it will take 75 more weeks for everyone to get at least one shot. That after 6 months it seems Pfizer and Moderna both start to lose efficacy. That the deaths per day at present are close to as bad as the worst times, and still rising. And this is without a mutation showing up that ignores the vaccine, a pretty high probablility I would think, especially in a place like America where it is about 50/50 vaccinated or not. With so many now getting Covid, which is constantly throwing off mutations, and the many that are vaccianted being exposed to those mutations (no masks, no caution) , it seems an accident waiting to happen. Not many are talking about that, I guess because it is just too horrible to imagine. Back to square one, 6 months min before a new vaccine available for the new Covid.
Might be hard for the Fed to also ignore the fact the resturant industry shed jobs in August. Lumber prices are now back to where they were before all the excitement, and so that mostly just leaves US stock indices at very elevated levels, and houses (I am not in the market for a car so don't know about prices there). My thinking is that with so much of the world in economic decline, deflation is a bigger concern than inflation. My guess is that if the US stock market starts to get seriously unhappy the Fed, whose sole mandate is to keep the US markets happy, will swoop in to save them, probably with negative interest rates.
And how will this affect gold price and thus EDV? Your guess is as good as mine.