Gold prices rose 0.8% to reach $4,630.09 per ounce in Asian trading, recovering from earlier lows below $4,600. The surge was driven by intensified debasement fears following the US Treasury's decision to double liquidity-support buybacks for longer-dated bonds. However, strong US inflation data is supporting the US Dollar and exerting downward pressure on the metal. Investors are now focused on Fed Chair Kevin Warsh’s upcoming Jackson Hole speech as a critical test for the current rally.
