Gold Price Forecast – Surging Hospitalization Rates Will Trigger More Lockdowns

The recent uptick in coronavirus cases is alarming. Hospitalizations are surging in the Midwest, and regional lockdowns are becoming likely. Gold is trading lower on vaccine developments, and prices may not bottom until December. THE SECOND WAVE OF COVID

Coronavirus cases are on the rise, and I do not see this trend slowing. New daily cases in the US reached 187,907 on Friday – a surge of 80% in just two weeks. The Midwest is being hit particularly hard.

https://www.worldometers.info/coronavirus/country/us/

Some argue that the surge in daily cases is because of more testing. True, but what concerns me is hospitalizations. The graph below shows that COVID-19 hospitalizations rose to 69,455 and broke out above the initial April and July peaks. https://covidtracking.com/data/charts/us-currently-hospitalized The regional hospitalization map shows a spike in the Midwest (recently 23,849) and more than double the May 6th peak of 11,483. It is important to note that […]

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