Gold Near June Peak as U.S. Treasury Boosts Liquidity
· Business · Economic Times, Reuters
Spot gold traded at $4,512.19 per ounce as of 0031 GMT after touching $4,525.79 earlier, the highest since June 2. U.S. Treasury buyback operations for long‑dated notes were doubled, pushing long‑dated yields lower. The dollar weakened, reducing the cost of gold for buyers in other currencies. U.S. total debt surpassed $40 trillion, sparking concerns about a fiscal crisis. Fed minutes indicate a 67.3% probability of keeping rates unchanged and a 32.7% chance of a hike.
Why it matters
Indian investors and banks that hold gold or offer gold loans will feel the impact of price swings. A weaker dollar and lower yields can make gold more attractive, potentially shifting investment flows.
Read the original report — Economic Times
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