Gold hovers near early-June high on lower bond yields
Gold hovered near its highest level in more than two months on Thursday after a surprise liquidity support announcement by the US Treasury pushed yields and the dollar lower. Spot gold was little changed at $4,512.19 per ounce, as of 0031 GMT, after hitting its highest level since June 2 at $4,525.79 earlier in the day. Prices jumped more than 4% on Wednesday. US gold futures for December delivery rose 0.6% to $4,569.80. Yields on long-dated US Treasuries fell, with the increased demand following an announcement that the Treasury Department would double the size of liquidity support buyback operations for longer-dated notes and bonds.