This is 'horrible for the world economy' but also good for gold price - Todd Horwitz
The re-appointment of Jerome Powell as Fed Chair means a steer away from more radical, progressive monetary policies, which would simultaneously cause gold to rally and spell disaster for the world economy, said Todd "Bubba" Horwitz of BubbaTrading.com.
Progressive policies like Modern Monetary Theory would be "much better for gold but they'd be horrible for the world economy. They'd be horrible for the United States. They would turn the United States into a socialist country or a communist country and be under the rule of somebody like China," Horwitz told David Lin, anchor for Kitco News.
For more information on gold and silver's price outlook, watch the video above.
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