Gold hovers near June high on lower bond yields
Gold prices remained near a two-month high on Thursday following a surprise liquidity support announcement by the U.S. Treasury that pushed yields and the dollar lower. Meanwhile, U.S. debt surpassed forty trillion dollars for the first time.
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Gold hovered near $4,512.19 per ounce on Thursday morning, holding close to a two-month high after a liquidity support announcement by the United States Treasury drove bond yields lower. Prices jumped more than 4% on Wednesday following the intervention. The move lowered borrowing costs and weakened the greenback, boosting non-yielding bullion assets.
