Gold prices closed slightly up at $1,810.00 per ounce on Friday (July 17), as the bull market continued for the precious metal (see the following chart). The summer resurgence of the coronavirus is jeopardizing the swift recovery of the U.S. economy. After spending trillions of dollars in the first half of this year, the U.S. government now has to consider how much more stimulus will be required to get the country through this. How could this affect gold? Bloomberg reports, “Diego Parrilla, who heads the $450 million Quadriga Igneo fund, says unprecedented monetary stimulus is fueling asset bubbles and corporate debt addiction—rendering interest-rate hikes impossible without an economic crash. In the ensuing market mania, the manager, whose portfolio is loaded up with cross-asset hedges, says gold could rise to $3,000 to $5,000 an ounce in the next three to five years, up from the current price of $1,800. “‘What you’re going to see in the next decade is this desperate effort, which is already very obvious, where banks and government just print money and borrow, and bail everyone out, whatever it takes, just to prevent the entire system from collapsing,’ Parrilla said.” Rick Andrews is president of Avant Capital Management.