Video News/In Focus with Jeremy Szafron

(Kitco News) - The US is on track to run roughly $10 trillion in deficits over the next five years, with no political will to rein in spending, and that fiscal backdrop keeps the long-term case for gold intact, according to Lyn Alden, founder of Lyn Alden Investment Strategy and author of Broken Money. Speaking with Kitco News, Alden said there is "no appetite among either the voter base or Congress or a president" to cut spending, noting both parties are now committed to protecting entitlements while defense spending rises. She argued the current inflation is largely fiscal-driven and that the Federal Reserve is "not sure they have the tools to do it properly," because raising rates above 100% debt-to-GDP can widen the deficit faster than it slows lending. Alden said "the fiscal side will win," her definition of fiscal dominance, in which Congress will not change course based on Fed policy. On gold, she remains a structural bull and is "certainly not selling," especially physical gold, but put herself in "the hold camp" after the run toward $5,000, wanting to see more consolidation and a firmer base before buying aggressively again.