Commodities
Gold Prices Surge Amid Dollar Weakness and Treasury Debt Buybacks
The price of gold has reached its highest level in three months, rising by about 2% to $4,661.70 due to a weakening US dollar and the Treasury Department's plan to boost buybacks of long-term government debt.
Silver prices also saw significant gains, surpassing $70 for the first time since mid-June as investors sought safe-haven assets amidst market volatility.
The rally follows a stagnant summer where gold and silver prices had declined due to concerns over interest rates and a stronger dollar.