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Peter Spina: U.S. begins 2027 fiscal year with record October budget deficit of $404 billion

Peter Spina: U.S. begins 2027 fiscal year with record October budget deficit of $404 billion
U.S. starts 2027 with record October deficit

The U.S. started its 2027 fiscal year with a record October budget deficit of $404 billion.

Peter Spina, CEO of GoldSeek.com, shared that Bessent has set a goal to reduce the deficit to 3% of U.S. GDP, but the 2026 budget gap was estimated at 6.2% of GDP, up from 5.8% for fiscal 2025.

UBS recently maintained its forecast for gold to reach $5,000 in 2027, expecting two Federal Reserve rate hikes by March. A Reuters survey cited in the same report placed the 2027 median gold price lower, at $4,650. Peter Spina has also commented on precious metals, describing silver as a strong buy given rising mining costs.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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