PANews reported on October 10 that Ajay Rajadhyaksha, Chairman of Barclays Global Research, stated in a report that this year's rise in gold prices signals growing market distrust of the existing fiscal and monetary order. He noted that the debt burdens of four major economies—the United States, the United Kingdom, France, and Japan—each exceed 100% of their respective GDPs, while their fiscal positions continue to deteriorate. He added, "Most importantly, there is little political will for fiscal consolidation." Meanwhile, other traditional safe-haven assets, such as the Japanese yen and the Swiss franc, are losing some of their appeal. Rajadhyaksha stated that gold typically rises when economies are shaky or financial markets are collapsing. He believes that despite the current health of financial markets, gold's recent rise should serve as a cause for concern for policymakers.PANews reported on October 10 that Ajay Rajadhyaksha, Chairman of Barclays Global Research, stated in a report that this year's rise in gold prices signals growing market distrust of the existing fiscal and monetary order. He noted that the debt burdens of four major economies—the United States, the United Kingdom, France, and Japan—each exceed 100% of their respective GDPs, while their fiscal positions continue to deteriorate. He added, "Most importantly, there is little political will for fiscal consolidation." Meanwhile, other traditional safe-haven assets, such as the Japanese yen and the Swiss franc, are losing some of their appeal. Rajadhyaksha stated that gold typically rises when economies are shaky or financial markets are collapsing. He believes that despite the current health of financial markets, gold's recent rise should serve as a cause for concern for policymakers.