The American government’s growing debt cycle makes gold an ever more attractive prospect for investors, says Canaian investment firm boss, John Ing. The CEO of Maison Placements Canada says that he expects gold prices to ascend as the U.S. government debt problem deepens.
He said, “The biggest threat to the dollar comes not from others but from the US government itself. And that is a worry because the burden of debt is America’s Achilles heel. America’s addiction to low rates and profligate spending debases the dollar, eroding its dominance, central to America’s credibility in financial markets. We believe this fiscal unsustainability will show up in even higher yields and pain, from the shopping cart to corporate balance sheets, to taxpayers, as those chickens are only coming home to roost.”
In this kind of environment, risk-off appetite is likely to be the dominant force, with savvy investors looking to gold to safeguard their wealth.
Expect gold prices to rise. Buy now.
