Japan's Massive Currency Intervention Boosts Gold as US Debt Nears $40 Trillion

Global precious metals markets remained steady last week despite significant global macroeconomic developments. Gold and silver prices saw little change, with gold trading at $4,050 per ounce and silver at $57.62 per ounce.

The gold-to-silver ratio climbed back to 70:1, a level not seen since earlier in the year when silver's price surge outperformed gold.

One factor behind this relatively muted response is the ongoing supply deficit for silver, with tight physical inventories continuing to support the long-term bullish outlook.

The Federal Reserve held interest rates steady last week, but concerns over the US national debt continue to grow. The country's federal debt is approaching $40 trillion, raising questions about its long-term sustainability and the purchasing power of the dollar.