US Debt Tops $40 Trillion as Global Borrowing Costs Surge 
China opens new Arctic trade route – but obstacles will prevent its wider use 
Dollar Hovers Near Multi-Month Lows as Treasury Buybacks Rattle Markets 
UK Budget Swings to Surprise £1.8 Billion Deficit in July 
Asian Stocks Slide as Samsung, Alibaba Lead Tech Selloff 
US Dollar Heads for Worst Week Since July as Fiscal Concerns Mount 
US Plans ‘Toughest Sanctions in History’ on Iran, Bessent Says 
UK Economy Shows Strength as Burnham Gets Early Boost 
Norway Backs Barents Sea Oil and Gas Expansion 
Gold Prices Hit Three-Month High as Dollar Weakens 
Iran Allows Iraqi Oil Tankers Through Strait of Hormuz 
ING Says Yen Is 20% Undervalued Against Dollar 
RBA Debated Rate Hike as Inflation Risks Persist 
South Korea Producer Prices Fall 0.4% in July 
Merz Pushes Faster Reforms to Revive German Economy 
Indian Sugar Stocks Surge on Tight Supply, Festive Demand 
ECB Rate Hike Bets Rise as Inflation Risks Persist 
Add as a preferred source on Google
Gold prices extended their strong rally on Tuesday, reaching a three-month high as investors weighed U.S. Treasury intervention in the bond market alongside escalating trade and geopolitical tensions.
Spot gold (XAU/USD) climbed 0.8% to $4,688.96 an ounce at 20:59 ET (00:59 GMT), while gold futures gained 1% to $4,746.09. Silver rose 0.8% to $69.51 an ounce, and platinum advanced 0.5% to $1,889.32. The U.S. Dollar Index remained largely unchanged at 98.98.
Gold has surged more than 7% over the past four sessions, extending last week's gains and moving comfortably above $4,600. The rally accelerated after the U.S. Treasury unexpectedly increased buybacks of longer-dated government debt last week.
The move pressured Treasury yields and weakened the dollar, increasing gold's appeal to international buyers. It also fueled concerns about U.S. fiscal stability and whether government efforts to control borrowing costs could undermine confidence in the dollar.
Treasury Secretary Scott Bessent has indicated that longer-term debt buybacks could be expanded, although he provided no new details on Monday. The administration is also preparing a fiscal initiative aimed at addressing elevated government borrowing costs.
These developments have revived the so-called debasement trade, which contributed to gold's roughly 65% gain in 2025. Investors increasingly view bullion as a hedge against fiscal expansion and potential erosion in the dollar's purchasing power.
Safe-haven demand has also strengthened amid geopolitical and trade uncertainty. Washington has threatened sanctions against countries maintaining economic ties with Iran, while U.S.-Canada trade tensions have intensified following failed negotiations and new tariff threats.
Gold's technical outlook has improved as well. The metal has broken above trendline resistance near $4,420 and its 200-day moving average around $4,515.
IG senior market analyst Tony Sycamore said gold likely established a bottom near its late-June low of $3,942. He expects price declines to attract buyers, with the next major resistance area seen between $4,900 and $5,000.
