An analysis by Kit Juckes of Societe Generale suggests that the US Treasury’s decision to expand its bond buyback program could weaken the dollar. This strategy, designed to manage market conditions, follows a surge in 30-year yields reaching a 19-year high. The US Treasury plans to double buybacks of 10- to 30-year securities, which may lead to lower long-term Treasury yields. Market conditions indicate a 70.2% probability that gold will reach $4,700 by September 1, 2026, a significant increase from previous weeks. A weaker dollar environment generally supports higher gold prices.
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