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Market Outlook: The new debt ceiling problem

Commentaries & Views

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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.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.