It's all about the DEBT'Clash coming': Worst-case scenario for gold in this supercycle is to double, Wells Fargo is watching $3,000 | Kitco News My Comment: The next financial crisis will be the debt implosion. Debt has been built up over 35 years due to loose Fed policies. Watch the national debt explode higher in the next recession. I'm expecting it to reach $40Trillion by 2026.
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"It's now undervalued," LaForge said. "If we look at the main driver of gold outside the supercycle, it is debt levels. Gold is the safe trade in a world where governments will have to figure out how to pay the debt back at a time when interest rates are rising."
Based on historical analysis of commodity supercycles, gold will at least double, and Wells Fargo is looking at the $3,000 target.