Gold could rally to a new record high if the US defaults and investors flee to safety

Yahoo!Finance/Filip DeMott/5-14-2023

graphic image of gold bars in herringbone design rotated vertically“Even assuming a deal is eventually reached, we wouldn’t disregard potential growing financial angst as the deadline approaches. In such a scenario, gold looks like one of the few likely candidates that would bear the burden of resulting market flows.” – Christopher Louney, RBC Captial Markets

USAGOLD note: Oanda’s Edward Moya says he would not be surprised at a $100 uptick in the gold price if the U.S. defaults.

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