Gold hovers near early-June high on lower bond yields

Gold hovers near early-June high on lower bond yields

Gold prices soared close to a two-month peak on Thursday after the U.S. Treasury announced bolstered liquidity measures. With yields falling and the dollar weakening, gold became increasingly attractive to investors. This move comes in light of persistent inflation fears and looming interest rate hikes, highlighting gold's reputation as a secure haven during times of financial instability.

Gold steadies near two-month high as Fed risk caps Treasury-fuelled rally

Gold held close to a two-month high on Thursday after the US Treasury’s surprise move to expand purchases of longer-dated debt knocked bond yields and the dollar lower, giving bullion its strongest macro tailwind in weeks. Spot gold traded near $4,512 an ounce in early Asian dealings after touching $4,525.79, its highest since June 2. Prices had surged more than 4% on Wednesday, while December US gold futures climbed to about $4,570. Treasury bu…