February 24, 2024 1:10 pm

Global Debt Soars to $310 Trillion as Gold Eyes Breakout, Analysts Brace for Unprecedented Market Shift – Citizen Watch Report

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As global debt skyrockets to nearly $310 trillion and gold reclaims its position above $2,000, investor @Frank_Giustra warns of an impending crisis dwarfing the impact of the 2008 recession. With gold poised for a breakout from a triple-top formation and historical trends suggesting resilience during rate-hike pauses by the Fed, the stage is set for precious metals to potentially enter an unprecedented third cycle.

Washington’s Fiscal Doomsday Machine

The US Treasury’s four-year cumulative deficit has soared to $9.0 trillion, with daily debt accumulation averaging $6.2 billion. This rapid increase signifies a drastic acceleration in national debt growth, raising serious concerns about fiscal management. Contributing factors include high interest rates and a declining commercial real estate market, marked by increased delinquencies and a slow recovery. This fiscal trajectory suggests an impending financial crisis, driven by unchecked government spending and rising debt service costs. The outlook for the US economy appears increasingly challenging with limited immediate solutions.

Gold Prices Soar Beyond $2,000 per Ounce, Eyeing Record July Highs

Gold futures have surpassed $2,000 an ounce, the highest since late July, buoyed by strong central bank buying and easing U.S. inflation expectations, which suggest a possible end to Federal Reserve interest rate hikes. The surge is partly due to increased gold imports by India and sustained interest from global central banks. Factors like lower interest rates, a weaker U.S. dollar, and geopolitical risks are positioning gold to potentially exceed record highs.



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Original Source: Global Debt Soars to $310 Trillion as Gold Eyes Breakout, Analysts Brace for Unprecedented Market Shift – Citizen Watch Report

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