Markets

Forget $10,000 gold, the trend is higher until governments fix their debt – John LaForge - KITCO

Source: KITCO

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DW NOTE

LaForge is betting on fiscal incontinence. Fair enough — the U.S. ran a $1.4 trillion deficit through June, 3% worse than last year, with no prospect of restraint. But gold is down 12.3% from its January high of $5,318 while equities are up 19% year-over-year, which means the market is currently pricing monetisation as a non-event. Either the deficit starts to matter again or it doesn't — and right now, it doesn't.

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