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Commodities

Weaker Dollar and Bond Buybacks Boost Gold Prices

Guavy AI Editorial Team
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Gold
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Gold prices rose in Friday's trading, heading for weekly gains, due to a weaker dollar and recent measures by the US Treasury regarding government bond buybacks.

The US Dollar Index fell 0.15% to 98.77 points, which is heading for weekly losses.

The Treasury announced it would double its purchases of longer-term securities next quarter to at least $4 billion per operation, according to US Treasury Secretary Scott Bessent.

Data from the CME FedWatch Tool showed that traders are pricing in a 63% probability of interest rates remaining unchanged at the Federal Reserve's upcoming meeting, compared with a 37% probability of a rate hike in September.

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