The Daily Market Report: Gold Firm Following Trump Presser

USAGOLD/Peter A. Grant/01-11-17

Gold edged higher in overseas trading to set yet another 6-week high. While the yellow metal came under some pressure in advance of President-elect Trump’s press conference, those losses were quickly retraced as Mr. Trump began to speak.

Investors are hoping to glean clues as to what types of policies might be implemented in the early days of the Trump administration. They are understandably hoping that the post-election surge in confidence will be validated and perpetuated.

Whether Trump’s policies will be able to snap the U.S. economy out of its doldrums remains to be seen. The stock market seems to have liked what they heard, with the Dow trading back within 200 points of the magical 20,000 level.

After the U.S. national debt hit $19,952,808,638,850.59 yesterday, I asked this question: Will the national debt hit $20T before Dow hits 20k?

As each approaches their own big round “20”, I wondered just how big is the near-$20T national debt compared to our stock market. It is in fact larger than the market cap of the entire S&P500! The VisialCapitalist has a great infographic from last year on the topic.

Make note of the following as well: The The U.S. national debt is 155x larger than all gold mined globally in a year. In fact, all of the world’s physical currency, gold, silver, and bitcoin combined equates with just 65% of the national debt.

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