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Gold futures finish sharply higher after bond yields plunge

20 Aug 2026 Evaluate
Gold futures finished sharply higher on Wednesday, driven by a sharp drop in long-term Treasury yields and a weaker dollar. The US Department of the Treasury announced plans to double its liquidity support buyback operations for long-dated bonds, reducing the cost of holding precious metals. Additionally, heightened tensions in the Middle East between the US and Iran increased inflation fears and boosted bullion prices.

Gold futures for December delivery up by $124.70 to 2.82% to settle at $4,545.30 an ounce on the Comex division of the New York Mercantile. While, spot gold down by $26.59 or 0.59% to $4,488.99 an ounce.