According to Gate data, the U.S. Dollar Index, or DXY, climbed nearly 20 points in a short-term move and was last quoted at 98.64. At the same time, spot gold fell $36 and was trading at $4,397.64 per ounce. The market move came after a prior statement from the U.S. Treasury, which said that under its expanded Treasury buyback plan, it would purchase up to $6 billion in long-dated government bonds in the first operation. The update ties a stronger dollar reading to a sharp move in gold prices, while also pointing to the Treasury’s planned bond purchases as part of the broader policy backdrop cited in the source report.
According to Gate data, the U.S. Dollar Index (DXY) rose nearly 20 points in a short-term move and was last at 98.64.
Spot gold fell $36 over the same stretch, with the price last quoted at $4,397.64 per ounce.
The U.S. Treasury had previously said that, under its expanded Treasury buyback plan, it would purchase up to $6 billion of long-term government bonds in its first operation.
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