business ๐ Gold price jumps 17% amid global uncertainty
Gold prices have surged significantly following a sharp sell-off in US long-term bonds and concerns over inflation. In the international market, COMEX gold is nearly 16% above its June 2026 low, while MCX gold is up about 17% from its June lows. This rally is fueled by central bank buying and reduced expectations of a US Fed rate hike in September. The US Treasury's move to increase buybacks signals liquidity support, boosting gold's appeal as a safe haven. Further upside could target $4900 per ounce if key international resistance is broken. ๐ฐ