/biz/ - Business & Finance

So I’m thinking of buying gold, looking for second opinions.

Currently the exchange rate from Cad to USD is .78, partly because of a little higher oil prices as well as investment uncertainty in the USD as a result of the election. The last time the CAD was this high was January of 2018 and hasn’t broken 80 cents since June of 2015.
There’s predictions that the USD could rise from the vaccine being implemented and things “going back to normal” but that then means that the CAD will decrease.

Canada is approaching 1 trillion dollars in debt, a increase of 800 billion since the start of 2020 with no sign of slowing down. It’s predicted to hit 160% debt to GDP in 2021. Canada hasn’t released a budget plan and the PM has a plan to do a “great reset” so he’s just piling on debt.

Canada’s credit rating has been decreased from AAA to AA+ and there’s talks of it being further decreased. Which would further increase interest on the debt I believe?
There appears to be no end in sight for the whole covid shit, and with the accruing debt and flight of investors in Canada it’s looking like we’re heading towards a recession. Furthermore the insistence of the liberal government that we need to get away from oil and the recent pledge to increase the carbon tax shows that until 2023 (next election) it isnt likely that we’ll see any pro-oil actions taken by the government.

Gold is currently falling down from a high, it’s predicted to float around $1900 USD differentiating around $60, but if more people buy it it could go up, it rose 27% in 2020 alone, I don’t see it decreasing.

TLDR gold low CAD exchange high government is retarded invest yes or no