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Commodities

Gold Prices Soar Above $US4500 Amid Surprise Treasury Buyback Move

Guavy AI Editorial Team
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Gold
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Australia's gold investors have been vindicated after the US Treasury announced it would ramp up buybacks of government debt.

The unexpected move sparked an explosive rally in bullion and gold miners, with prices soaring above $US4500.

The US Treasury Department said it planned to at least double the size of buyback operations for longer-dated bonds following concerns about the Iran war and deteriorating US fiscal conditions.

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