The Financial Post reports in its Thursday edition that gold's rally has been nothing short of historic, but 2020's rush is still far from over, according to gold bugs and analysts being forced to continuously change their price targets. The Post's Victor Ferreira writes that gold's price has surged more than $330 per ounce since March and is now trading above $1,800 per ounce for the first time in nine years (all figures U.S.). Miners have also benefited from the run and watched their stocks rally, while perhaps the sector's most popular exchange-traded fund, the Vaneck Vectors Gold Miners ETF, has doubled in value. The growth potential shown by the sector is a stark reversal from the minimal returns it offered investors during the past decade as bullion was largely stuck in a range between $1,100 and $1,300. One thing pushing the investment thesis for gold in 2020 has been the macroeconomic impacts of COVID-19, iTrustcapital Inc.'s Tim Shaler said. "Gold is being driven higher for two reasons," he said. "One is it's a hedge against future inflation. ... The other set of gold buyers are the Armageddon buyers." A less likely reason is countries running out of cash and having to temporarily switch to gold.