Gold Prices Poised to Rise as US Intervention Measures Take Hold

Gold prices may continue to benefit from US government intervention measures to control borrowing costs. According to Charlie Morris, Investment Director and founder of ByteTree, the recent move by US Treasury Secretary Scott Bessent to double long-term US Treasury bond purchases has similarities with quantitative easing policies.

Morris notes that this goal is to contribute to pulling down long-term bond yields, thereby reducing US government borrowing costs. This is a factor beneficial for gold prices.

The trend of gold is improving, Morris said, suggesting that precious metal prices are likely to soon return above the 200-day moving average.