Market Outlook: The new debt ceiling problem
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Congress has passed a debt ceiling deal and has suspended the U.S. debt ceiling through January 1, 2025.
CPM Group's Jeffrey Christian analyzes the implications of 1 January 2025 as the end-date of the agreement, and discusses some of the reasons it may set the U.S. government up for another round of stalemated government reducing the reputation of the government again at a highly inopportune time, with a lame duck Congress and probably a lame duck President needing to compromise after a nasty election during an extended holiday recess.
Jeff also discusses long-term gold and silver prices, the strong investment demand for each precious metal, and the improbability for gold to reach $30,000 and silver to reach $3,000 in the near future.