Gold prices have surged to nearly $4,700 an ounce, marking the highest level since mid-May, driven by investor anxiety over US inflation and instability in the bond market. The increase follows the US Treasury's announcement to double its debt purchases of longer-dated bonds to stabilize rising yields, which has heightened focus on upcoming US inflation data and Federal Reserve commentary.
In addition to gold, Bitcoin has also seen significant gains, surpassing $80,000. Meanwhile, oil prices have declined despite threats of US sanctions on Iran and its trading partners, as markets appear to be largely unaffected by geopolitical tensions. Asian stock markets showed mixed results, with Japan and South Korea posting gains while Hong Kong experienced a slight dip.