Explosion of debt to make gold prices skyrocket, just wait for it
(Kitco News) - Ballooning debt has not yet exploded, and the debt to GDP ratio keeps expanding, and this eventually will drive gold prices much higher than current levels, said Jeff Clark, senior precious metals analyst at GoldSilver.com.
“There are a lot of catalysts that have pushed gold to where they are now. We broke through that $1,400 ceiling and now the $1,400 seems to be the floor,” Clark told Kitco News on the sidelines of the Silver and Gold Summit in San Francisco. “It’s not surprising that gold came a little weaker recently, but when you think about it, the big catalysts that are out there, that will drive gold and silver higher, haven’t even begun to play out yet.”