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Jerome Powell may have just confirmed a massive buy signal for gold with his recent web interview comments.

As we know, historically, gold has always been a trusted safe-haven asset in economic times of uncertainty and distress.

Gold set a record price high last year and with the COVID vaccine approved and circulating, many are wondering what’s next.

A significant indicator to this question laid in the responses Jerome Powell would or would not give in his interview- and gold bugs all around loved his answers as gold jumped nearly 1% after his interview aired.

The main questions: Will the Fed begin raising interest rates… and will the Fed end the purchasing of bonds? To which Powell responded, “When the time comes to raise interest rates, we will certainly do that.” “And that time, by the way, is no time soon.”

In response to the question of whether or not the Fed would end the purchasing of bonds, Powell responded, “We’ll let the world know” when it’s time to discuss plans for slowing purchases. And that will happen only when it’s clear that they are well on their way toward their economic goals.”

In a nutshell, this could very well be a sign that the dollar will continue to decrease in value, making gold more appealing to those trying to fight inflation and possible turmoil in the market.

Not to mention President-elect Biden’s promises towards future stimulus packages, including a $1.9 Trillion bill he proposed on Thursday.

Jeffrey Halley, a senior market analyst at OANDA, also believes that Powell’s and Bidens’s actions will support gold in 2021 stating, “The stimulus is going to be bullish for asset markets, and with the Fed chair quashing any prospects of raising interest rates or dialing down bond-buying anytime soon, gold is supported.”

A recent surge in unemployment rates and a shortage of vaccines could be a foreshadow of other potential problems ahead.

Although we have solutions this time around, for now at least, things aren’t looking too much different from 2020.

Nothing goes straight up, and nothing goes straight down.

Could this be a resting place for the dollar before it plummets in value? And on the other end of the spectrum, could gold soon be approaching a new record high?

Learn how American Hartford Gold is helping Americans protect their assets by calling 800-462-0071.