Gold and silver investors enjoyed an exceptional year in 2020. Both precious metals have prospered during the pandemic, as economic uncertainty has prompted investors to invest in the “safe-haven” assets.
Gold rebounded nicely during the year, hitting a seven-month low of $1,470 per ounce in March and then climbing to an all-time high of $2,070 in August. As of Dec. 29, gold was priced at $1,877 and posting a 12-month return of 23.5 percent.
Silver’s performance during the year was even more impressive. After hitting an 11-year low earlier in the year, silver soared to a seven-year high of $29.26 per ounce in August. The white metal closed the year around $26 and produced a 12-month return of 46 percent.
Gold and silver typically tend to perform well during times of economic weakness or uncertainty. Whether precious metals can maintain their luster in 2021 will depend largely on the pandemic — to what degree countries can tame the virus — and its relat
