Do Gold Prices Rise Whenever the Debt Ceiling is Raised?

Garry White argues:

There is … an uncanny correlation between the gold price and the US debt ceiling. Over the past 30 years, the gold price has tracked the ceiling whenever it has been raised.

Gold at $2,000? I didn’t used to think so – but now I am not so sure. In fact, I’m almost convinced it will happen before the year is out.

Do you think the chart shows a strong correlation or not?

For an in-depth background on gold prices, see this, this, this and this.

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