The US Treasury Department announced that it will buy back up to 6 billion US Treasury bonds on Thursday, but the 6 billion US dollars is far below Wall Street's optimistic forecast of 10 billion dollars. US bond yields continue to rise, putting some pressure on gold prices. As we emphasized yesterday, the boost to gold prices due to US dollar credit losses far outweighs the upward pressure on gold from rising US bond yields and inflation. We can continue to pay attention to buying opportunities after gold adjustments.

The US Treasury Department announced that it will buy back up to 6 billion US Treasury bonds on Thursday, but the 6 billion US dollars is far below Wall Street's optimistic forecast of 10 billion dollars. US bond yields continue to rise, putting some pressure on gold prices. As we emphasized yesterday, the boost to gold prices due to US dollar credit losses far outweighs the upward pressure on gold from rising US bond yields and inflation. We can continue to pay attention to buying opportunities after gold adjustments.