Gold prices surged on Monday to reach their highest level in over three months. S.

S. Treasury pushed precious metals higher across the board.

S. 20 per ounce by mid-day trading, marking its highest point since May 14.

S. 40 per ounce.

S. Treasury Department announced a bond buyback support plan.

The announcement dragged the greenback down toward multi-month lows, making dollar-denominated gold far more attractive to international investors. Market sentiment turned firmly bullish after gold broke above its 200-day moving average last week, triggering technical momentum.

Bond yields have also stabilized and dipped slightly, providing a strong tailwind for non-yielding bullion. Institutional appetite is mirroring the price action.

4 billion) last week, marking their strongest weekly demand surge in 10 months. North American and European funds spearheaded the wave of buying.

S. Treasury Secretary Scott Bessent regarding potential sanctions related to Iran, following his earlier press conference scheduling.

At the same time, traders are positioning themselves for critical macroeconomic updates later in the week. Focus remains locked on Wednesday's Personal Consumption Expenditure price index, which serves as the Federal Reserve's preferred inflation metric.

Investors will also parse Chair Kevin Warsh's debut address at the Jackson Hole Symposium on Friday to evaluate the central bank's interest rate trajectory. The broader metals market followed gold's lead according to Reuters data.

27.