Daily Market Report
➢ Gold surged above $4,500 as the US Treasury’s decision to buy back longer-term bonds crushed yields and the dollar simultaneously.
➢ Gold retreats from its June highs as hawkish FOMC minutes and US-Iran tensions provide fresh support for the USD.
➢ The USD weakens below 99.00 as Treasury bond buybacks trigger a major Fed repricing, with the Dollar Index now seen answering to the Treasury rather than the Fed.
➢ Silver refreshes a two-month high as the US doubles its bond buyback plan, riding the wave of falling yields and dollar weakness.
➢ Trump announced a “crushing economic operation” on Iran, escalating pressure as the Strait of Hormuz standoff intensifies.
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