Commerzbank’s Carsten Fritsch notes Gold has surged, breaking above USD 4,500 per troy ounce as safe‑haven demand rises on US debt concerns and a weaker Dollar. The US Treasury’s bond buyback announcement triggered the sharpest daily Gold rally in six and a half months, with strong ETF inflows, though upside momentum may slow if US inflation data stays elevated.
Debt concerns boost safe haven
“The gold price jumped by more than 4% or around USD 180 on Wednesday, marking its sharpest daily rise in six and a half months. The price also surpassed the USD 4,500 per troy ounce mark for the first time since early June.”
“This was triggered by the US…
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