- Peter Cardillo is Chief Market Economist at Spartan Capital Securities
- Gold's recent surge is driven by distrust in paper currencies
- Soaring deficits in major countries, especially the US, fuel gold's rise
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Let us know.Peter Cardillo, Chief Market Economist at Spartan Capital Securities, believes gold's recent surge to new highs is driven by distrust in paper currencies and soaring deficits in major countries, particularly the United States. With gold prices already reaching yearly targets, Cardillo expects the precious metal to continue its upward trend.
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