Gold near $4,650 as 15% rally gains steam on lower yields
Mumbai, Aug. 27 -- Gold futures held marginally higher near $4,650 an ounce, while silver climbed to around $69.50, with both metals heading toward an extraordinary monthly advance of roughly 15% and 20%, respectively. The rally gained traction after the US Treasury doubled long-term bond buybacks to $4 billion per session, pushing yields lower and weakening the dollar, while short-covering and speculative buying added momentum. Silver has further benefited from a structural supply deficit and strong industrial demand from solar, EVs, AI data centres and electronics. Lower rate expectations, US debt concerns and safe-haven flows amid Middle East tensions provided additional support. Investors now await Fed Chair Kevin Warsh's Jackson Hole s...
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