Gold Futures Rise Amid US Treasury Buyback Plan

The prices of gold futures on Bursa Malaysia Derivatives rose as the US Treasury's plan to buy back government debt lowered Treasury yields. According to Stephen Innes, global strategist at Quintex Intel, the expansion of US Treasury buybacks has taken some support away from the US dollar.

Innes noted that this decline in long-end US Treasury yields has made gold respond positively, as it takes some pressure off the US dollar. The US Treasury Department announced on Wednesday its plan to double government debt buybacks over the next few months, focusing on the sensitive longer-duration segment of the market.

The spot-month August 2026 contract rose to $4,494.50 per troy ounce from Tuesday's $4,360.0 per troy ounce, while the September 2026 contract increased to $4,511.00 per troy ounce from $4,376.60 per troy ounce previously.