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Gold rises after Treasury expands long-term bond purchases
Gold futures opened at $4,580 per troy ounce, after the 10-year Treasury yield fell more than 5 basis points and the 30-year fell 9 basis points.
Gold prices moved higher on Thursday, August 20, 2026, with December gold futures opening at $4,580 per troy ounce, up 0.8% from Wednesday’s close, according to Yahoo Finance.
As of 9:03 a.m. ET, gold was down from the morning opening at $4,535.8 per troy ounce, but still benefited from a rebound that pushed prices above $4,500 for the first time since early June.
The rally followed a U.S. Treasury announcement that it would increase its purchase of long-term bonds as a maintenance measure, which contributed to a drop in Treasury yields, with the benchmark 10-year rate falling by more than 5 basis points and the 30-year benchmark dropping 9 basis points.
Separately, the Fed released minutes from its July meeting showing some committee members argued for rate increases, but traders appeared to focus mainly on the Treasury purchase move, where lower interest rates can reduce the holding cost of gold versus yield-bearing assets.
Latest closeGold $4,432.00 ▲1.6%