Daily Gold Market Report

U.S. National Debt Skyrockets:
$1 Trillion Increase Every 100 Days Signals Alarm

(USAGOLD – 3/4/2024) Gold prices are strong in early trading Monday, this is after recent gains that saw gold hit a two-month high Friday. The U.S. national debt is escalating rapidly, with a recent pattern of increasing by $1 trillion approximately every 100 days, pushing the current total to nearly $34.4 trillion. This quickened pace of debt accumulation has been observed since June, with the debt rising from $32 trillion in mid-June to over $34 trillion by January. The acceleration in debt growth, alongside high gold and bitcoin prices, reflects market concerns about debt debasement. Bank of America’s Michael Hartnett predicts this 100-day $1 trillion growth pattern will continue. Meanwhile, Moody’s Investors Service downgraded the U.S. government’s ratings outlook to negative, citing large fiscal deficits and weakened debt affordability, especially in the context of higher interest rates and the absence of effective fiscal measures to curb government spending or increase revenues.