Gold breaches $4,600 as U.S. debt worries and bond-buyback bets boost safe-haven demand
TL;DR
Gold climbed for a third straight week, topping $4,600 as concerns about U.S. debt and the Treasury’s move to double long-dated bond buybacks boosted demand for safe havens, aided by a weaker dollar; analysts say the rally is driven more by bond-market interventions than rate expectations, with July PCE data and Fed Chair Warsh’s Jackson Hole speech in focus next.
- Wall Street bereft of bears after gold smashes $4,600/oz, Main Street bolsters bullish majority with Warsh, PCE in focus KITCO
- Gold Above $4,600 on Weaker Dollar, Debt Fears WSJ
- Gold And Silver Hit Highest Prices In Months—Here’s Why Forbes
- Gold Price Hits 3-Month High Amid Bond Market Stress: Is $5,000 Next? Yahoo Finance
- Gold Set for Third Weekly Gain on US Treasury Buyback Plans Bloomberg.com
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