Mainstream media coverage?
Uh oh … jinxed it #silver #gold pic.twitter.com/wOKRglveqQ
— Wall Street Silver (@WallStreetSilv) January 22, 2023
Ongoing inflationary pressures and increasing risk the federal government could default on its loans will likely see Wall Street traders rush to precious metals in 2023.
The U.S. hit its $31.4 trillion debt ceiling on Thursday, after the latest inflation data showed consumer prices still 6.5% higher on an annual basis.
Meanwhile, gold and silver jumped roughly 15% and 21%, respectively, the last three months, as plummeting stocks pulled the major U.S. benchmarks even lower, and the U.S. dollar slumped to just $0.81 of the British Pound and just $0.92 of the Euro.
In an interview with FOX Business, Jonathan Rose, CEO of Genesis Gold Group, said, “The primary driving force behind gains in the precious metals market are a devaluing US dollar, inflation, and other federal government monetary policies.”
www.foxbusiness.com/markets/gold-and-silver-boom-predicted-us-hits-debt-ceiling-dollar-devalues
h/t jlee2027