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Gold pulls back after 4% rise
Gold prices slightly decreased by 0.6%, reaching approximately $4,481.69 per ounce after hitting their highest level since June at nearly $4,525. This comes amid expectations of continued upward momentum, supported by a weakening dollar and declining U.S. Treasury yields. Concerns are also growing over the stability of the U.S. financial system and the ongoing rise in government debt, which has exceeded $40 trillion. This followed the U.S. Treasury Department's announcement of expanding long-term bond buyback operations to support liquidity, further boosting investor interest in gold as a safe haven, especially amidst persistent inflation pressures and the risk of rising interest rates.
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