Gold moved sideways last week, closing at $1,872.40 per ounce (see the following daily basis chart with 50-day and 200-day moving averages and technical analysis lines). As we in the U.S. celebrate Thanksgiving this week, we all have one major thing to be thankful for: the unprecedented speed with which a COVID-19 vaccine is being developed. This will be a blessing not only to the U.S. but also to the world. Unfortunately, the enthusiasm around the positive vaccine news is being tempered by the surge of COVID-19 cases in many states, which has caused some to reimpose restrictions. There is even talk of a national shutdown for six weeks. These measures will further afflict the economy and require massive additional stimulus from the government. As a result, many analysts see inflation rising next year as the dollar printing required for the stimulus raises the money supply. Business Insider reports, “Gold prices will break out of a tight trading range in 2021 as inflation worries stoke demand, Goldman Sachs analysts said in a note. The bank holds a $2,300-per-ounce price target for the precious metal, implying a 22% rally from current levels over the next 12 months.” Rick Andrews is president of Avant Capital Management.