With a debt ceiling crisis on the horizon, will gold continue to be a wise investment? We asked experts to weigh in.
As if the U.S. economy hasn’t had enough woes this year, it now faces a potential debt ceiling crisis.
Treasury Secretary Janet Yellen , “After reviewing recent federal tax receipts, our best estimate is that we will be unable to continue to satisfy all of the government’s obligations by early June, and potentially as early as June 1, if Congress does not raise or suspend the debt limit before that time.”
If the U.S. defaults on its debt, it will be unable to pay its bills, and resulting in what would be “an economic and financial catastrophe.”
This news has investors understandably worried about protecting their money should the worst occur. Gold has this year as investors seek to shield their portfolios from persistent inflation and other economic issues. With this latest concern on the horizon, will it continue to be a wise investment? We asked experts for their opinions.
Interested in gold investing? Learn more with a free information kit.What U.S. debt default could mean for gold
A debt ceiling crisis would have a wide range of implications for your finances. Here’s how it could affect gold investing. It could hedge against panic
When the economic news is dire, . In the event of a debt crisis, investors will likely continue to turn to gold to shield their money from the fallout.
“For those that are truly concerned about a potential U.S. debt default, gold is probably the best hedge as it does well during times of panic,” says Noah Damsky, CFA and principal of Marina Wealth Advisors.
