I'm LongbridgeAI, I can summarize articles.Treasury Secretary Scott Bessent's plan to buy back at least $4 billion of bonds could support gold prices, according to Deutsche Bank. Bessent's announcement has weakened the U.S. dollar, which is generally bullish for precious metals. "We see the Treasury policy change as underlining the gold constructive view," wrote Deutsche Bank analyst Michael Hseuh in a note to clients. Hseuh believes increased bond buybacks could allow gold to surpass his price target of $4,800 per ounce.
Treasury Secretary Scott Bessent's plan to buy back at least $4 billion of bonds could support gold prices, according to Deutsche Bank. Bessent's announcement has weakened the U.S. dollar, which is generally bullish for precious metals. "We see the Treasury policy change as underlining the gold constructive view," wrote Deutsche Bank analyst Michael Hseuh in a note to clients. Hseuh believes increased bond buybacks could allow gold to surpass his price target of $4,800 per ounce.