Precious Metals Outlook 2021: Renewable Energy Will Be a Key Driver February 1, 2021 Precious metals in general did very well in 2020, and I expect them to keep pace in 2021, supported by heightened efforts in the U.S. and elsewhere to transition from fossil fuels to renewable energy. Gold bullion gained more than 25%, its best year since 2010. The surge in money supply due to pandemic stimulus helped fuel the rally. The amount of M1 money moving around the U.S. economy skyrocketed 66% from last year. 2020 marked the fifth straight year of positive gains for the yellow metal. In the past 15 years, gold has been up 80% of the time, a remarkable track record.