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Do Gold Prices Rise Whenever the Debt Ceiling is Raised?


Garry White argues:

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, this, this and this.
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