Gold price surges 4% past US$4,500, holds near two-month high
Sri Lanka, Aug. 20 -- Gold prices remained near a more than two-month high on Thursday after a surprise U.S. Treasury liquidity support announcement pushed Treasury yields and the dollar lower.
Spot gold was little changed at $4,512.19 per ounce as of 0031 GMT, after touching 4,525.79, its highest level since June 2. Gold prices jumped more than 4% on Wednesday.
U.S. gold futures for December delivery rose 0.6% to $4,569.80.
Longer-dated U.S. Treasury yields declined following the Treasury Department's announcement that it would double the size of its liquidity-support buyback operations for longer-dated notes and bonds.
The U.S. dollar also remained subdued, making gold cheaper for buyers holding other currencies.
Markets are als...
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