Gold price is going to $2,200 as central banks break the global economy - Degussa's Thorsten Polleit

- The gold market continues to struggle below $1,900 an ounce; however, long-term, one analyst said that there is still plenty of value in the precious metals space, and it's only a matter of time before gold and silver go higher as investors underprice the risk of a recession this year.

Polleit said that he remains significantly bullish on gold as inflation remains a significant threat to consumers and the global economy. While consumer prices have fallen from their highs seen last summer, Polleit said central bank tightening has reduced the global real money supply, liquidity in the global economy.

After unleashing massive amounts of liquidity in 2020 in response to the global COVID-19 pandemic, Polleit noted that central banks worldwide are now trying to put the genie back in the bottle and, in the process, risk creating a new recession. So far this year, markets have largely dismissed the idea of a recession as the labor market remains healthy; However, Polleit said that one reason why investors aren't worried about a recession is because they know the Fed's hawkish stance will only go so far.

Also holding further aggressive action from the Federal Reserve in check is the U.S. government's growing debt. Polleit noted that in 2021 the government paid about $350 billion to service its debt when interest rates were below 1%.

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Yeah but next stop is 1750 first

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