Commodities
Gold Rises Amid US Treasury Bond Buyback Plans
The US Treasury's announcement of a bond buyback has not dented gold prices, which have risen over 1% to $4,400. The move is part of Secretary Scott Bessent's plan to cap rising US bond yields.
The US Treasury plans to purchase up to $6 billion in outstanding securities with maturities between 10 and 20 years. This comes as investors await the release of US inflation data on Thursday and Friday, which could influence monetary policy decisions.
Money markets indicate that a quarter-point rate hike is expected at the September 15-16 Federal Reserve meeting, with odds standing at 63% according to Prime Terminal.