Gold Demand Upticks In Asia & Inflation Concerns Continue

An additional bullish factor for gold is rising government debt. 

“Currently, the CBO estimates that the 2021 deficit will be $2.3 trillion, slightly less than last year’s total. However, this does not include the $1.9 trillion stimulus package recently passed by congress. Nor does it include the possibility of a new $3 trillion infrastructure package which is currently being planned by the administration.”

He finishes by saying that gold’s abilities as an inflation hedge remain untarnished as he rallies in support of gold. Deficits are nowhere near peaking, and the gold market is yet to price in the new spending. 

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