The global debt crisis is driving gold prices higher: Interest expense on global government debt has risen to an annualized record of $4.9 trillion. Interest costs have risen +$1.6 trillion over the last 3 years. Global debt has risen +$55 trillion over the same period, to a record $346 trillion. At the same time, gold prices have gained +142% and exceeded $4,300/oz for the first time. Gold prices have tracked global government interest expense with a near-perfect correlation since the 2008 Financial Crisis. Investors are rushing into gold as the global debt crisis deepens.(The Kobeissi Letter)