Jay Taylor of Gold, Energy and Tech Stocks is interviewed on Kitco. Jay feels that the US economic situation is dire.The currency is going to come under more pressure. With today’s massive debt each tiny increment of $220 billion dollars. So each 1% increase in interest rates means another 22 Billion in debt. Jay feels that we are headed for a new QE. He’s bullish gold and mining stocks. There is still some strength in the equities market which work counter to gold prices. However if there is a pullback in equities it will expose the underlying weakness in the markets.
Jay says we have to get through $1350 first but he sees the price of gold breaking $1700 within the next two years.
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