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Do Gold Prices Rise Whenever the Debt Ceiling is Raised?

Washington’s Blog [1]
Aug 4, 2011

Garry White argues [2]:

There is … an uncanny correlation between the gold price and the US debt ceiling. Over the past 30 years, the gold price has tracked the ceiling whenever it has been raised.

Gold at $2,000? I didn’t used to think so – but now I am not so sure. In fact, I’m almost convinced it will happen before the year is out.

Do you think the chart shows a strong correlation or not?

For an in-depth background on gold prices, see this [3]this [4]this [5] and this [6].

Europe on Brink of Major Financial Collapse: Guggenheim CIO 150709banner2 [7]