The 'scariest' economic threat facing America today; gold price to hit $2,000 by year-end

Inflation Eats at Surging U.S. Wages

Gold last traded at $1,789 an ounce. Silver at $26.49 an ounce.

NEWS SUMMARY: Precious metal prices rose Friday as mixed U.S. jobs data weakened the dollar. U.S. stocks rose slightly as the June jobs report beat analyst's expectations.

KITCO--"The 'scariest' economic threat facing America today; gold price to hit $2,000 by year-end....Speaking to Michelle Makori, editor-in-chief of Kitco News, Regan said that today's political situation in the U.S. poses the greatest economic threat to any investor.

'I think the political environment is the most scary environment, and frankly, the biggest headwind to everything that's happening,' Regan said.

'There is this rhetoric that is tossed around right now that is anti-America, anti-capitalism, pro-socialism, and I think that's actually the biggest threat because if you say we're going to penalize everybody that's out there earning a living, and starting a business and we're going to redistribute wealth, we're going to redistribute capital as we see fit, then that actually is going to be the biggest suffocation to America.'

Regan's comments come as the Biden Administration has proposed legislation to raise corporate taxes, capital gains taxes, and taxes on individuals earning more than $400,000 a year. For more information on Regan's preferred investment assets, watch the video."