Gold Prices Pop After Treasury Moves to Push Down Bond Yields — WSJ

By David Uberti

Precious metals prices jumped, putting gold on pace for its highest settlement value since June, after the Treasury Department said it would ramp up buybacks of longer-dated government debt.

Treasury's move at least momentarily reversed a run-up in bond yields that had been pressuring precious metals, which pay no yield. Front-month gold futures on Wednesday recently traded around $4,500 a troy ounce, up about 2%.

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