Gold price surges on US Treasury buyback and dollar weakness
Gold rose 5.2% in a week to $4,662, driven by a US Treasury buyback plan and a falling dollar. A new parabolic long trend has begun, but analysts warn the speed may be unsustainable.
Gold Market
Gold rose 5.2% in a week to $4,662, driven by a US Treasury buyback plan and a falling dollar. A new parabolic long trend has begun, but analysts warn the speed may be unsustainable.
Gold is approaching $4,500 for the first time in over two months as the US dollar weakens. The US Treasury’s decision to double debt repurchases has weighed on the greenback, supporting bullion.