Canadians trading, investing gold and silver after prices surge with COVID-19

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Soaring gold and silver prices have lured Canadians to sell their unwanted jewelry or invest even more in the precious metals with the hope of even larger profits.

"We've been extremely busy in the last few days, especially with the prices going up the way they have been, probably the busiest we have ever been," said Aditya Nagaraj, Greater Toronto and Hamilton regional manager for Canada Gold, which buys and sells the precious metals.

Some sellers have unloaded their rings and necklaces for a little cash to help them through unemployment and tough economic times. But Nagaraj said most customers have been wealthy Toronto-area residents, especially older people, who no longer wore the many gold pieces they had accumulated. However, one of Canada's oldest jewelry brands says gold is considered to be a good investment at times of crisis when confidence is low and anxiety is high.

Investing in gold or silver can be done by holding coins or bullion, as well as buying exchange traded funds or mining company stocks such as Franco-Nevada Corp., Barrick Gold Corp. or Pan American Silver Corp. Some observers believe the price increases aren't over, with some even predicting gold could reach US$5,000 to US$10,000 an ounce in the next decade.

He points to Bank of America researchers forecasting that gold could reach US$3,000 an ounce within 18 months and Goldman Sachs pegging a price of US$2,300 within a year.Pape is skeptical, however, of forecasts for US$10,000 an ounce for gold and said a COVID-19 vaccine that allows the global economy to recover could be a setback by removing the safe haven factor from the metal.

Source: Digital Coin News (


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NESARA/ GESARA, maybe? Back to gold standard?

VeryGoodButcher 🤔🌱🇨🇦💰🙌

Well ya...cause when turdo is done the cdn dollar will be already is!!! fiatcurrancy

Ya because Trudeau will collapse our cdn dollar . That’s what this is showing

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