Weekly Headlines
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Central Banks Keep Adding Gold
Central banks continued buying gold in July, adding a net 23 tonnes. China led the way with 20 tonnes, extending its gold-buying streak to 21 consecutive months, while Poland added another 8 tonnes.
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Oil Nears $100 Ahead of Key Inflation Data
Oil prices are climbing again as Middle East tensions intensify, nearing $100 a barrel. Now markets are turning their attention to two major inflation reports due later this week that could help shape the Fed's next move.
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The Cost of America's $40 Trillion Debt Is Rising
America's debt problem isn't just about the amount owed. The federal government is now spending $1.25 trillion a year on net interest, consuming nearly one-fifth of federal revenue.
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The Economist Known for Warning About 2008 Names 4 Risks to Watch
?These are the four risks economist Nouriel Roubini is watching most closely right now, including rising bond yields, geopolitical tensions, higher oil prices and the possibility of a market correction.
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$40 Trillion in Debt May Be Only Part of the Problem
Another analyst is warning that America's $40 trillion national debt may be only part of the problem, as higher interest rates make that debt increasingly expensive to service. With bond yields elevated, inflation still a concern and economic growth showing signs of strain, she argues these pressures could strengthen the case for gold.
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Can America Grow Its Way Out of $40 Trillion in Debt?
Now that the U.S. national debt has surpassed $40 trillion, Treasury Secretary Scott Bessent says stronger economic growth could help the country grow its way out of the problem. But economists are skeptical, with one analysis estimating the economy would need to grow about 4.3% annually for the next decade, which is more than twice the CBO's projected pace, to eliminate the deficit through growth alone.
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Texas Opens the Door to Gold and Silver Payments
A new Texas law allows precious metals to be used in transactions when both parties agree. The legislation also lays the groundwork for an electronic payment system backed by gold and silver held at the Texas Bullion Depository, another sign of growing interest in using precious metals beyond simply holding them as an investment.