Gold Rallies on US Fiscal Concerns and Treasury Bond Maneuvers

The price of gold has reached $4,658.41 an ounce, up 3.0 percent on the week and 14 percent over the past 30 days.

This rally is no longer just about central bank hoarding and dollar weakness, but also a reflection of concerns over US fiscal policy and the Treasury Department's recent bond market maneuvers.

The Treasury is considering a $1 trillion bond buyback through its general account and has raised the ceiling on individual repurchase operations, sparking debate among investors.

Stanley Druckenmiller has called this intervention a 'serious misstep', arguing that Washington is fighting prices the market has already set.