--- title: "Gold Hits Three-Month High as Investors Boost Safe-Haven Demand — Update" type: "News" locale: "en" url: "https://longbridge.com/en/news/296803771.md" description: "Gold prices surged to a three-month high, rising 0.9% to $4,723.30 per ounce, driven by U.S. Treasury plans to double purchases of long-dated bonds. This move sparked concerns over the dollar's strength and fiscal outlook, boosting safe-haven demand. Investors are now awaiting key data on inflation and Fed policy signals." datetime: "2026-08-24T14:40:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296803771.md) - [en](https://longbridge.com/en/news/296803771.md) - [zh-HK](https://longbridge.com/zh-HK/news/296803771.md) generator: "portal-rs" --- # Gold Hits Three-Month High as Investors Boost Safe-Haven Demand — Update By Giulia Petroni Gold prices climbed to their highest level in more than three months after the U.S. Treasury's surprise ramp-up in buybacks of long-dated government debt revived concerns over the dollar and pushed investors toward safe havens. In early U.S. trading, New York futures rose 0.9% to $4,723.30 a troy ounce, their highest since mid-May. Prices are up 16% this month. The Treasury said last week it would at least double its purchases of longer-dated government bonds in an effort to bring down long-term borrowing costs, but the move triggered a new round of dollar selling and raised concerns about the U.S. fiscal outlook. A weaker dollar makes greenback-priced bullion cheaper for holders of other currencies. The prospect of larger Treasury buybacks has revived concerns about currency debasement, bolstering gold's appeal as a store of value. The so-called debasement trade--buying assets expected to hold their value against the weakening of the dollar and other fiat currencies--came under pressure earlier this year as the Iran war stoked inflation fears and strengthened the dollar. Investors are now looking to the July Personal Consumption Expenditures price index due on Wednesday and Federal Reserve Chairman Kevin Warsh's speech at the Jackson Hole Symposium on Friday. "While we're not in the throes of a crisis, the U.S. fiscal position is obviously poor," said Thomas Mathews, head of markets for Asia Pacific at Capital Economics. "Chair Warsh's previously stated views about the bond market, namely that the Fed's balance sheet could be smaller and that higher long-term yields might justify rate cuts, might be poorly received in the current market environment." Markets have recently scaled back expectations for higher U.S. interest rates. According to CME Group's FedWatch tool, traders are now pricing a 63% probability that the Federal Reserve will leave rates unchanged at its September meeting. Write to Giulia Petroni at giulia.petroni@wsj.com (END) Dow Jones Newswires August 24, 2026 10:27 ET (14:27 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. ### Related Stocks - [GLD.US](https://longbridge.com/en/quote/GLD.US.md) - [UGL.US](https://longbridge.com/en/quote/UGL.US.md) - [IAU.US](https://longbridge.com/en/quote/IAU.US.md) - [GLDM.US](https://longbridge.com/en/quote/GLDM.US.md) - [SGOL.US](https://longbridge.com/en/quote/SGOL.US.md) - [GLDW.US](https://longbridge.com/en/quote/GLDW.US.md) - [GOLD.AU](https://longbridge.com/en/quote/GOLD.AU.md) - [USDU.US](https://longbridge.com/en/quote/USDU.US.md) - [GLL.US](https://longbridge.com/en/quote/GLL.US.md) - [UUP.US](https://longbridge.com/en/quote/UUP.US.md) - [CME.US](https://longbridge.com/en/quote/CME.US.md) ## Related News & Research - [PRECIOUS-Gold drops after sharp gains as inflation concerns come to the fore](https://longbridge.com/en/news/296506502.md) - [Why is your gold waiting on a speech?](https://longbridge.com/en/news/296733808.md) - [PRECIOUS-Gold retreats as bond yields surge to highest levels in decades](https://longbridge.com/en/news/296241483.md) - [PRECIOUS-Gold holds steady with Fed minutes in focus](https://longbridge.com/en/news/296310600.md) - [11:11 ETU.S. Money Reserve and Visual Capitalist Announce Strategic Content Partnership to Advance Precious Metals Education](https://longbridge.com/en/news/296247272.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**