$37 Trillion and Climbing

By August 2025, US national debt has climbed beyond US$37 trillion—roughly US$100,000 per person or US$275,000 per household. That’s a startlingly fast rise; the US has borrowed US$3 trillion since January 2024 and continues to add about a trillion every five months—twice the rate of the past quarter‑century.

Pandemic relief packages, tax cuts and recent legislation such as the “One Big Beautiful Bill” continue to drive this surge. Debt is expected to swell by another US$3.4–4.1 trillion over the next decade. With the debt‑to‑GDP ratio now hitting 124%, and interest payments taking up over 10% of federal spending, the strain on public finances is mounting.

Interest costs have already surpassed US$1 trillion a year and could reach US$1.8 trillion by 2034. That level of expenditure risks squeezing out essential services and raising borrowing costs throughout the broader economy. Meanwhile, mounting debt poses inflationary or even stagflation threats—and the dominance of the US dollar is slipping, with its share of global reserves down to around 58%.

Why Precious Metals Still Matter

With debt piling up and inflation showing few signs of easing, gold, silver and platinum continue to hold their own as trusted assets. Each plays a different role. Gold has pushed past US$3,300 this year—briefly touching US$3,500 in April—as central banks, especially in China and India, keep adding it to their reserves. It remains the go-to option when confidence in currencies slips. Silver’s up more than 25% this year, trading near US$36/oz. It’s driven by strong industrial demand and often outperforms gold during inflationary stretches. Then there’s platinum—still flying under the radar at around US$1,365, but with real potential thanks to its scarcity and critical uses in cars and healthcare. Whether it’s governments or everyday investors, more are turning to hard assets like these as a way to step outside the risks of fiat.

Conclusion

Hitting a $37 trillion debt milestone clearly illustrates the long‑term challenges the US now faces. As deficits pile up and confidence in Treasury markets erodes, precious metals stand out as one of the few reliable hedges. Gold, silver and platinum each bring distinct strengths—worth keeping front of mind in times of fiscal uncertainty.