Jan van Eck, chief executive officer of VanEck Funds, said gold is not driven by US inflation and said he is not worried about the $40 trillion US debt, according to Bloomberg.

Speaking on Bloomberg Businessweek Daily from Future Proof, van Eck said Bessent and US President Donald Trump are "toying" with the market over the idea of sending $5,000 checks to Americans if they keep control of Congress.