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.
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