Gold prices climbed above the $4,500 mark, reaching approximately $4,520 during the early Asian session on Thursday, according to FX Street. This marks the highest level for the precious metal since early June.
The surge in gold came as the US Dollar weakened and Treasury yields fell, following intervention by the US Treasury Department aimed at stabilizing bond markets. FX Street reported that this government action provided relief to the bond markets, indirectly supporting the rise in gold prices.
For Japanese investors, the rise in gold reflects broader shifts in global risk sentiment and currency markets, which can influence portfolio allocations across FX, equities, and commodities.