U.S. Debt News Gives Support To Gold Price

GOLD

This year’s U.S. budget deficit is projected to be a whopping $1 trillion. Plus, the Congressional Budget Office (CBO) has stated the budget deficit between 2021-30 is expected to average $1.3 trillion. The CBO also stated that by 2030, the national debt is expected reach $31.4 trillion. This information is giving support to the Gold price after reaching a low of $1,562 in overnight trading. At 11am PT today, Gold is trading at $1,570 per ounce, up $1 on average volume.

SILVER

Silver fell to $17.24 in over-night trading, before seeing sizeable bargain buying. Excellent demand took the price back over the $17.50 level and it a high of $17.52 per ounce. Physical demand for Silver investment product is very strong in Europe and Asia. At 11am PT today, Silver is trading at $17.50, up $0.03 on normal trading volume.