Forex
Gold Soars Past $4,630 Amid Rising US Debt Concerns
Gold prices surged past $4,630 an ounce on Thursday as investors returned to the currency-debasement trade.
The move was driven by concerns over US debt and Treasury intervention, outweighing the prospect of higher Federal Reserve interest rates.
Bullion rose about 0.8% to $4,630.09 in Asian trading, while US futures gained 0.7% to $4,685.50.
The advance comes despite hotter-than-expected US inflation, which left Friday's first Jackson Hole speech from Fed Chair Kevin Warsh as the next major test for the rally.