Fed begins tapering this month; Will gold price finally break out? Gary Wagner

The Fed announced Wednesday plans to begin tapering its asset purchase program later in November, with a $10 trillion reduction in Treasurys and $5 billion reduction of mortgage-backed securities.

Gary Wagner, editor of TheGoldForecast.com, discusses with David Lin, anchor for Kitco News, the impact this decision will have on the gold price.

“It is our national debt that has grown substantially. It’s basically doubled since the pandemic, and at some point that’s got to get dealt with, or maybe not…This is a new way of looking at economics where you just print money to get us out of a recession, but I think at some point that’s going to come and bite them in the tail, so to speak, and that would move gold highe,” Wagner said.

For more information on the Fed’s tapering decision, as well as Wagner’s gold price outlook for key levels to watch, click on the video above.

Follow David Lin on Twitter: @davidlin_TV (https://twitter.com/davidlin_TV)

Follow Kitco News on Twitter: @KitcoNewsNOW (https://twitter.com/KitcoNewsNOW)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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