Analysts Explain The Real Reason For Surge In Precious Metals
Peter Cardillo, Chief Market Economist at Spartan Capital Securities, believes that 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. He attributes the surge to a combination of factors, including a weakening US dollar and rising debt levels.
