Gold holds at $4,514.23, eyes third straight weekly gain

Gold was little changed at $4,514.23 an ounce on Aug. 21 but was on track for a third consecutive weekly gain, with prices up 3.2% for the week. U.S. gold futures steadied at $4,571.20. A weaker dollar made the dollar-priced metal cheaper for buyers using other currencies, while U.S. Treasury plans to increase buybacks of longer-dated securities helped support the market. Treasury Secretary Scott Bessent said he may further increase government repurchases after the Treasury announced it would double next quarter’s buybacks to at least $4 billion per operation. Two Federal Reserve officials cautioned about how the debt-management changes could affect monetary-policy choices. Markets priced a 64% chance of unchanged Fed rates in September and a 36% chance of a hike, according to the CME FedWatch Tool. Silver was flat at $68.03 an ounce, platinum rose 01.1% to $1,846.29 and palladium steadied at $1,333.11, with all three metals headed for weekly gains.

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Gold holds at $4,514.23, eyes third straight weekly gain - CoinPost Terminal