Commodities
Gold Surges Above $4,500 Amid Treasury Bond Buyback Rally
Gold prices surged above $4,500 an ounce and silver broke through $66 as yields fell after the Treasury announced plans to boost long-dated bond buybacks.
The move pushed spot gold up 4.33% to near $4,521.00 an ounce and spot silver up 5.29% to $66.550.
North American equity markets closed higher, with the Dow Jones Industrial Average rising 86.81 points or 0.16% to 53,430.21.
The Fed minutes showed several officials supported a 25-basis-point hike at the July meeting, but markets still price September hike odds near 56%, down from 82% after the July decision.