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“Gold Bulls Strike Back as US National Debt Surges”
By Sri Jegarajah

Quote:

A self-described “cautious bull” on gold for this week and an “optimistic bull” over the long term, Edmund Moy, a former director of the U.S. Mint, said “as long as the United States government spends a lot more than it takes in, the debt ceiling will rise as will the price of gold.”

Moy added: “The fundamental issues of a broken fiscal policy and a modest and fragile economic recovery have not changed. Further, the shutdown’s impact on the economy will not be known for a few months, suggesting that the Federal Reserve will hold off on any tapering until all the data comes in.”

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