In the last six weeks, the Fed has added $2.26T. That’s the same as Britain’s GDP. And Goldman Sachs says the U.S. is on track to run deficits of $6T over the next two years. That’s more than the GDPs of Germany or Japan.
“In a world of gnarly economic and real-life news flows, gold declines are likely to be limited, given the favorable opportunity cost to warehouse yellow metal with interest rates at zero across the board.”