Gold after COVID declared a pandemic (11 Mar 2020)
After COVID declared a pandemic on 11 Mar 2020, gold was 8.5% higher three months on and 7.6% higher twelve months on, measured from the Feb 2020 monthly average of $1,597 a troy ounce.
- Gold before
- $1,597
- Feb 2020
- Gold +3 months
- +8.5%
- Gold +12 months
- +7.6%
- Silver +12 months
- +43.0%
In context
WHO declared a pandemic; markets crashed and gold was sold for cash before rallying to a record in August.
Over the same months silver was 1.1% lower three months on and 43.0% higher twelve months on.
Of the 29 market or central-bank moments on the chart with a full year after them, this ranks 17th for gold twelve months on.
The geopolitical or monetary shock before it on the chart: U.S.–Iran (2 Jan 2020).
The one after: Afghanistan exit (30 Aug 2021).
Monthly average prices in U.S. dollars per troy ounce (Kitco.com and the World Bank Pink Sheet), from the last full month before a period to its last full month; the record runs Feb 1971 to Oct 2026. What the record did, not a forecast. Source: who.int.
Updated Oct 2026 · record through Oct 2026