Gold Eyes $5,000 as Silver Climbs Above $67 on Dollar Weakness

TLDR

• Gold climbed above $4,500, while silver moved above $67 after the U.S. Treasury expanded its bond-buyback program.
• Lower Treasury yields and a weaker U.S. dollar supported precious metals, with the dollar index falling toward 98.76.
• Gold must hold above $4,300 and break $4,520 to strengthen the case for a move toward $5,000.
• Silver needs to remain above $60 to maintain bullish momentum as industrial demand and U.S. economic data remain key drivers.
• A 10-year Treasury yield breakout above 5% could strengthen the dollar and put renewed pressure on both gold and silver prices.

The Gold and Silver forecast improved after the U.S. Treasury expanded its bond-buyback program. The move pushed Treasury yields lower and weakened the U.S. dollar. Spot gold climbed above $4,500, while silver moved above $67. Both metals gained as lower yields reduced the appeal of interest-bearing assets.

The Treasury plans to double some long-dated debt purchases from $2 billion to at least $4 billion per operation. The 30-year Treasury yield fell toward 5.18% after touching 5.337%, its highest level in 19 years. The dollar index slipped toward 98.76, adding support to precious metals.

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