Gold price’s real drivers are not even here yet

Ballooning debt has not yet exploded, and the debt to GDP ratio keeps expanding, and this eventually will drive gold prices much higher than current levels, said Jeff Clark, senior precious metals analyst at GoldSilver.com.

“There are a lot of catalysts that have pushed gold to where they are now. We broke through that $1,400 ceiling and now the $1,400 seems to be the floor,” Clark told Kitco News on the sidelines of the Silver and Gold Summit in San Francisco. “It’s not surprising that gold came a little weaker recently, but when you think about it, the big catalysts that are out there, that will drive gold and silver higher, haven’t even begun to play out yet.”

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MARKET SUMMARY

INDICES

Name Last Change
DOW 27911.30 0.11%
S&P 500 3141.63 0.29%
NASDAQ 8654.05 0.44%
TSX 16939.61 0.07%
TSX-V 536.32 0.00%

Resource Commodities

Name Last Change
Gold 1475.05 0.03%
Silver 16.90 0.30%
Copper 2.78 2.783
Platinum 901.00 0.67%
Oil 58.76 0.82%
Natural Gas 2.24 0.94%
Uranium 25.75 0.19%

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