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Cash levels at the US Treasury are down toward a dangerously low level

Cash levels at the US trseasurt are going down toward a dangerously low level because Washington are still struggling to raise the debt ceiling until the last minutes.

As of May 25, Treasury had just USD 38.8 billion in cash and earing the bare minimum level of USD 30 billion. If Congress doesn’t raise the debt ceiling by June 5, Treasury Secretary Janet Yellen warns the US government will not have enough funds to pay all of the nation’s obiligations in full and on time, in another word – Default.

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截至 5 月 25 日,财政部手头上只有 388 亿美元的现金,距离最低现金水平 300 亿美元只差一点点。如果国会不能在 6 月 5 日之前提高债务上限,美国财政部部长耶伦警告,美国政府将没有足够的资金来按时全额支付或部分支付国家债务的债息,换句话说——债务违约。


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Debt Deal Starts to Take Shape

Debt deal takes shape to raise limit. Biden administration insists that there won’t be a debt default. But the market is still watching the US government’s spending in the next three years and having concerns about whether the US government will run out of cash again.


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Breaking News: US Debt Talk

US House Speaker Kevin McCarthy says still far apart on debt talk but can get to yes. And he doesn’t want default. There won’t be a default.


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Gold nearly reached USD 2,050 per oz

Gold spiked to nearly USD 2,050 per troy ounce this morning amid the US inflation report, then dropped nearly USD 20 per oz on profit taking.

Lask week, US Federal Reserve announed a rate hike of 0.25 percenrage point. In general, higher interest rates are typically bearish for yellow metals – Gold and make precious metals less attractive as an alternate investment. However, a pause or an end to the rate hikes may send the bullion markets bullish again.

Global investers currently are watching closely in the standoff in Biden and congressional leaders over the US debt ceiling and also a potential banking crisis. Both factors will weight heavily with the US and global econimic growth. And the uncertainty in the US markets will push investors turn to the haven asset – gold market.

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