Massive debt is probably gold best friend.
The Governemnt/Coroporate/household debt levels in our economy are now higher than they were when the economy crashed in 2008
Massive debt is only possible with a government policy of negative real rates. The low/negative rates encourage, in fact, demand, a massive build up of debt.
That is the purpose. Not to argue whether the debt is good or bad. That's irrelevant.
The salient fact about the super low rates is that the massive debt ensures the rates must stay low forever, and the low rates ensure the build up of debt is perpetual.That is a mathematically inviolate perpetual motion machine that stops only when the entire system collapses.
Inevitable (As the preposterous architect from matrix would say)
People have noticed the correlations between debt / rates/ gold price.
The truth is that isn't the debt or the rates per se that affect the gold price but the massive instability in the low rare / massive debt environment we are in that ensures the gold price must rise.
Because gold rises with instability.