31 July 2023
Gold’s value remains steady as investors evaluate the Federal Reserve’s recent decisions and decreasing US consumer inflation. Gold’s reputation as a risk hedge and alternative to the US dollar contributes to its 60% rise over five years, outperforming the dollar. The US’s soaring public debt, predicted to reach $52 trillion by 2033, coupled with political resistance to spending cuts or tax hikes, may lead to a major debt crisis in the next decade. This could discourage foreign debt buyers, particularly non-allied nations like China, potentially leading them towards gold. Hence, it’s likely gold prices will continue to excel in the upcoming decade.